The U.S. Senate approved the compromise agreed between President Barack Obama and Republican opponents regarding the renewal of tax incentives and blocking an increase in taxes from January 1.
The Senators adopted with 81 votes ‘for’ and 19 ‘against’ the law, which extends by two years for all Americans, tax cuts adopted in 2001 and 2003 under the leadership of George W. Bush and which expire on December 31. Initially, Democrats wanted to extend the facilities only for middle-class people, i.e., for households making less than $250,000 per year. In return for renewing tax cuts for wealthy people, the Democrats had obtained an extension to 13-month period of entitlement to unemployment benefits.
Like the first procedural vote on Monday on the same subject, the law has received broad support from Republicans. “We can not afford to leave (the law) to fall. I encourage the members of Congress to act to adopt the tax cuts as soon as possible,” President Obama said shortly before the vote.
The text should be examined but also in the House of Representatives, where the debate promises to be tougher because of reservations expressed by many Democrats. They particularly criticize the inheritance tax considered too generous for higher salaries.