October 12, 2004

Senate Passes Big Corporate Giveaway: Feingold Yes; Kohl "Present"

Tax law sausage making for the donor class. Wouldn't we all like a 5.25% tax rate! Jonathan Weisman takes a look:

The Senate gave final approval today to the most significant corporate tax legislation in nearly 20 years, sending President Bush a sprawling, 650-page measure that closes egregious tax loopholes, reduces taxes for domestic producers and doles out scores of tax breaks for interests ranging from tackle box makers to Native Alaskan whaling captains.

The Senate vote of 69 to 17, taken in a rare holiday session, belied the acrimony underlying the measure, which includes almost $140 billion in tax breaks over 10 years, offset by loophole closures and other revenue raisers. The House passed it Thursday night by a similarly comfortable margin, 280 to 141, and Bush is expected to sign it into law.

HR 4520 Roll Call Vote

I frankly am amazed that Senator Feingold voted for this. Senator Kohl took an interesting path voting present (?)..... Politics. Send your comments to campaign@russfeingold.org or Senator Kohl

Interestingly and appropriately, Tammy Baldwin voted against this bill.

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Posted by James Zellmer at October 12, 2004 12:00 AM | Subscribe to this site via RSS:
Posted to Politics | Taxes