House Approves H.R. 8 to Extend 2001 and 2003 Tax Rates

The U.S. House of Representatives last week voted 256 to 171 in favor of H.R. 8, the “Job Protection and Recession Prevention Act,” which would extend the 2001 and 2003 tax rates through 2013.
More
 

CapitolAmyIA.png

The U.S. House of Representatives last week voted 256 to 171 in favor of H.R. 8, the “Job Protection and Recession Prevention Act,” which would extend the 2001 and 2003 tax rates through 2013. 

H.R. 8 includes an extension of current marginal tax rates, as well as dividend and capital gains tax rates. It also extends current estate tax rates and exemption levels through 2013 and provides for an alternative minimum tax (AMT) patch, also through 2013. Without a legislative solution, all of the 2001 and 2003 tax cuts will expire at midnight on New Year’s Eve.

The Senate passed its version of tax cut legislation a week earlier, voting 51 to 48 in favor of the Middle Class Tax Cut Act, S. 3412. The two bills now must go to conference so that Congress can negotiate the differences between the two measures.

Photo Credit: Amy Toner/NATSO

Digital-Tablet-With-Clipping-P-28426844.png

This article originally ran in NATSO News Weekly (NNW), NATSO's member only weekly electronic newsletter. NNW is packed with the latest updates on government and business issues affecting the truckstop and travel plaza industry.

If you aren't reading NNW, you are missing out. Not a memberJoin today or submit a request to receive additional informationIf you are a member and not receiving NNW, submit a request to be added to the email list

Subscribe to Updates

NATSO provides a breadth of information created to strengthen travel plazas’ ability to meet the needs of the travelling public in an age of disruption. This includes knowledge filled blog posts, articles and publications. If you would like to receive a digest of blog post and articles directly in your inbox, please provide your name, email and the frequency of the updates you want to receive the email digest.