Quantcast
Channel: Anderson Cooper 360 » Congress
Viewing all articles
Browse latest Browse all 54

KTH: Fiscal cliff deal filled with pork

$
0
0

So what is really in the fiscal cliff legislation?

Of course, there are the widely-known sticking points the two sides have been haggling over for weeks: extensions of the income tax cuts for middle and low-income earners, the current estate tax rate, and the alternative minimum tax.

But there's also a provision on two- and three-wheeled electric vehicles, renewable energy, and rum.

The American Taxpayer Relief Act of 2012, which passed the Senate early Tuesday morning, is a vehicle for a number of regular year-end tax extenders.

Among the extensions is the excise tax carry-over on rum produced in Puerto Rico and the Virgin Islands. It's a federal tax of which most is paid back to the islands.

Read more...



Viewing all articles
Browse latest Browse all 54

Trending Articles



<script src="https://jsc.adskeeper.com/r/s/rssing.com.1596347.js" async> </script>