Tax Cut Package!

    On December 17, 2010 the House passed Bush's Tax Cut Package. The House voted 277 to 148 to not only temporarily extend tax cuts but to also continue unemployment benefits for 13 months and approve a series of smaller tax credits, cuts and extensions. Because of the passage, the bill now goes to President Barack Obama for his signature.
   Tax Cuts is a reduction in taxes. Unemployment benefits is a financial compensations for unemployed workers. Tax credits are deductions and exemptions that only reduce the amount of your income that is taxable.   
   Now that the bill has passed this is considered a made victory for Obama, who stood out his last week to make a compromise with Senate Republican Leaders, that he believed that the bill would pass before the end of the year 2010. However, it has also broken the coexistence between the President and the Liberals in the House, who feel that Obama has stopped fighting for their dreams.
   Since the Midterm elcetions I figured that the president was going to have to be more conservative or more on the republican side. Which means he was going to have to change some the ways and make new decisions. Now the liberals are a little upset but I feel that the tax cuts, benefits, credits and extensions are great. The Bill allows the people at the bottom of the spectrum to the top, it extends all tax credits, such as college tuition, child and earned income and it allows businesses to deduct 100% of certain investments etc.