ISSN 2330-717X

Obama signs tax cuts bill

By

U.S. President Barack Obama signed a controversial USD 858 billion bill to extend tax cuts and unemployment benefits for Americans.

“We are here with some good news for the American people this holiday season,” Obama said.

The White House announced that Obama will sign the tax measure, which won final approval in the House late Thursday night. In addition to extending the tax cuts for two years, the bill adds 13 months of jobless benefits and cuts the payroll tax by two percentage points for a year.

Obama had negotiated the agreement with Republicans, who were crucial to pushing the package through both chambers of Congress, but especially in the House.

The measure is not paid for, and costs more than Obama’s controversial stimulus package that was harshly criticized by Republicans for exacerbating America’s deficit and debt problem.


Enjoy the article? Then please consider donating today to ensure that Eurasia Review can continue to be able to provide similar content.


KUNA

KUNA

KUNA is the Kuwait News Agency

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

CLOSE
CLOSE

Notice: Undefined variable: font_family in /home/eurasiar_bak/public_html/wp-content/plugins/gdpr-cookie-compliance/moove-modules.php on line 282