(WSJ) Bid to Keep Tax Cuts For Middle Class Fails

The U.S. Senate on Saturday defeated two attempts by Democrats to extend the Bush-era tax cuts for the middle classes permanently, in rare weekend votes that likely had little effect on wider negotiations to reach a compromise about extending the tax cuts.

The Senate voted 53-36 to reject an attempt to initiate debate in the chamber on a measure that would have extended lower tax rates for individuals who earn less than $200,000 and couples earning less than $250,000.

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Posted in * Economics, Politics, Budget, Economy, House of Representatives, Office of the President, Politics in General, President Barack Obama, Senate, Taxes, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, The National Deficit, The U.S. Government