Taxable Talk

It appears that there will be a temporary extension of the Bush Tax Cuts for two years. At least, that’s the direction Congress is moving in from news reports. While the House passed a motion to only approve an extension of the cuts for the “Middle Class,” that bill died in the Senate. President Obama signaled a willingness to compromise if there’s an extension of unemployment benefits. So there’s the probable compromise: Extension of the Bush Tax Cuts for all along with an additional one-year of unemployment benefits.

Of course, that does bring up some issues:

• When will the AMT Patch be passed?
• Will legislation pass dealing with the Estate Tax or will I be doing lots of Estate Tax Returns in the future?
• Will Harry Reid (D-NV) insert online poker legislation into either the AMT Patch bill or the Bush Tax Cut/Unemployment Benefits legislation?

Add to this the possibility that Harry Reid will insert online poker legalization into this bill and it should be an interesting week in Washington.

This entry was posted on Monday, December 6th, 2010 at 3:39 am and is filed under Legislation, Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.