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House Approves Bush Tax Cut Extension House Approves Bush Tax Cut Extension House Approves Bush Tax Cut Extension House Approves Bush Tax C...

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Homepage (Subscribers) / TAXES

House Approves Bush Tax Cut Extension

August 1, 2012

House Republicans on Wednesday approved a bill to extend all of the Bush-era tax cuts.

  • The 256-171 vote -- along mostly party lines -- came after the GOP fended off a Democratic alternative to only extend the cuts on household and individual annual income of $250,000 and $200,000, respectively.
  • One Republican, Tim Johnson of Illinois, voted against the GOP plan.
  • House Republicans' victory puts the GOP at even with Democrats, as the Senate last week approved on a party-line vote the Democratic plan.
  • The dueling proposals mean Congress breaks for the August recess at a stalemate, with party talking points at the ready, but not poised to settle anything until after November's elections.
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