Extension of the Tax Cuts
Yesterday the House voted on two tax proposals. The first was to extend the 2001, 2003, and 2010 tax cuts, which are scheduled to expire at the end of the year. The second proposal, originating from the Senate, would extend the tax rates for those who made $250,000 dollars or less. Some have claimed such a proposal would affect many businesses.
While both the House and Senate continue to posture on the expiring tax cuts as the November elections near, we wonder how much Congress would have to increase taxes to address the elephant in the room, the federal budget deficit. Find the answer to that question in our fact sheet, “Are Taxes the Ticket?”, and our updated infographic here.