Hallelujah!
Well, here's some good GOP news:
House and Senate Republicans reached agreement today on a $70-billion bill that would extend President Bush's tax cuts for investors for two more years and temporarily block a big jump in the Alternative Minimum Tax.
The agreement, which has a good chance of passing both chambers later this week, would lock in one of Mr. Bush's signature tax cuts through 2010 and give Republicans a much-sought victory at a time when most of their other efforts have been stalled.
Those tax cuts have a lot to do with this:
A flood of income tax payments pushed up government receipts to the second-highest level in history in April, giving the country a sizable surplus for the month.
In its monthly accounting of the government's books, the Treasury Department said Wednesday that revenue for the month totaled $315.1 billion as Americans filed their tax returns by the April deadline. The gusher of tax revenue pushed total receipts up by 13.4 percent from April 2005.
It marked the largest one-month receipt total since the government collected $332 billion in revenue in April 2001, reflecting a boom in capital gains from stock investors lucky enough to cash out their investments before the bursting of the stock market bubble in early 2000.
Why is it that so many people have trouble making the connection between the two?
House and Senate Republicans reached agreement today on a $70-billion bill that would extend President Bush's tax cuts for investors for two more years and temporarily block a big jump in the Alternative Minimum Tax.
The agreement, which has a good chance of passing both chambers later this week, would lock in one of Mr. Bush's signature tax cuts through 2010 and give Republicans a much-sought victory at a time when most of their other efforts have been stalled.
Those tax cuts have a lot to do with this:
A flood of income tax payments pushed up government receipts to the second-highest level in history in April, giving the country a sizable surplus for the month.
In its monthly accounting of the government's books, the Treasury Department said Wednesday that revenue for the month totaled $315.1 billion as Americans filed their tax returns by the April deadline. The gusher of tax revenue pushed total receipts up by 13.4 percent from April 2005.
It marked the largest one-month receipt total since the government collected $332 billion in revenue in April 2001, reflecting a boom in capital gains from stock investors lucky enough to cash out their investments before the bursting of the stock market bubble in early 2000.
Why is it that so many people have trouble making the connection between the two?
posted by Jennifer at 1:10 PM
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