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Senate Votes on Tax Bill

The Senate voted on December 13 to go forward with the bill that will extend the time during which long-term unemployed workers may apply for extended unemployment benefits. The bill also extends many tax benefits to low- and middle-income households, including the CTC and EITC refundable tax credits. A “holiday” from payment of a portion of the Payroll Tax will also be helpful to most taxpayers. As the bill is written, it will not endanger the future of Social Security benefits, as the portion not paid by the individual will be covered from the general treasury. NETWORK is very supportive of these actions.

The procedural vote on Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act (S. Amdt. 4753) allows Senate members to bring the bill to the floor for discussion and a vote. This is likely to happen on Tuesday, Dec. 14. 

For a good explanation of what is in the bill, as allowed to go forward on Monday, see:

http://www.whitehouse.gov/issues/taxes/framework/?utm_source=site&utm_medium=banner&utm_campaign=taxcutwhiteboard