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House sends Obama bill to avoid Jan. 1 tax hikes (AP)

WASHINGTON – The House has given final approval to a bipartisan bill that will avoid a scheduled rise in income taxes for millions on Jan. 1.

The vote was 277-148 late Thursday on the legislation, which is the result of a compromise between President Barack Obama and top Republicans.

The bill also cuts Social Security taxes for nearly every wage earner in 2011, and renews a program of jobless benefits for the long-term unemployed.

The Senate passed the bill on Wednesday.

The breaking news, House sends Obama bill to avoid Jan. 1 tax hikes
(AP)
extract from US Economy

Short URL: http://www.usnews9.com/?p=4553

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