House passes bill to maintain tax cuts for 2 more years

12/17/2010 | Google

Many taxes won't be going up on Jan. 1 after all. Just before midnight Thursday, the House of Representatives passed a compromise tax package that maintains Bush-era tax cuts for an additional two years. Among other provisions in the $858 billion measure: a one-year cut in Social Security taxes and stepped-up breaks for businesses that invest in new equipment. The bill now heads to the White House for President Barack Obama's signature.

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