Tax News & Views - December 31, 2012
Vol. 13, No. 48
Tax Policy Group, Deloitte Tax LLP
- McConnell announces agreement to address Bush tax cuts – Senate Minority Leader Mitch McConnell, R-Ky., announced December 31 that he had reached an agreement with Vice President Joe Biden on a deal that would extend the reduced Bush-era income tax rates for lower- and middle-income taxpayers, allow the top tax rates to increase the on both earned income and investment income for upper-income households, and increase the estate and gift tax rate for high-value estates.
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