Senate weighs small business tax cut
By The Week Staff | July 10, 2012
Harry Reid is reportedly leading a Democratic challenge to current Senate filibuster rules.
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n Tuesday, the Senate began debate on a $29 billion bill that, among other proposals, would provide a tax cut to small businesses that hire new workers or give raises, part of a push to bring down the high unemployment rate. The bill was proposed by Democrats, who claim that it will add one million jobs to the economy. Republicans, however, appear skeptical of the legislation, saying they would prefer to see deeper, across-the-board tax cuts. The White House says it strongly backs the legislation.
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