Tags: US | Tax | Cuts

Lawmakers Negotiate Tax Cuts as Vote Nears

Wednesday, 01 Dec 2010 06:56 PM

WASHINGTON (AP) — Republicans and Democrats are working to find an agreement on extending Bush era tax cuts that expire at the end of the year, even as House Democrats plan a politically charged vote on a bill that would let tax cuts for the wealthy expire.

The House vote, scheduled for Thursday, would extend middle-class tax cuts while letting tax cuts for high earners expire. Even if it passes the House, the bill stands no chance in the Senate. Nevertheless, House Democrats want to publicly stake out their position before compromising on extending the tax cuts for everyone.

The White House, meanwhile, is opening the door to a possible compromise that would extend all the tax cuts temporarily.

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