Friday, May 23, 2003
Tax Cut Passes-The tax bill squeaked through the Senate 51-50 and the House 231-200. The dividend tax cut got the big news, but the other news was that the standard deduction and 15% tax bracket for married couples both got bigger and the upper-middle-class 27% bracket got lowered to 25%. Added money in paychecks from decreased withholding will kick in July 1. The hero of the piece is Ben Nelson; he and Zell Miller were the two Democrats to vote for the package, but you'd expect Miller to do so. The villian of the piece is the Bull Moose himself; one can see albino RINOs Snowe and Chaffee voting against, but I think this assures McCain a primary challenge next year. Congressman Hayworth, the Club for Growth's on line two. Conversely, a yes vote insures Voinovich a second term; he'll get a primary challenge from the right for cutting the number in the bill down, but he'll sneak in.
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