OUR THOUGHTS ON:

House Passes Middle-Class Tax Cut

Tax

By Ron Kramer

In vote of 234 to 188, the House today passed middle-class tax relief legislation making permanent tax cuts for middle-class taxpayers. The Democratic sponsored bill lets the Bush era tax cuts for those making more than $250,000 expire. Although this bill stands little chance of passage in the Senate, it was the Democrat’s last stand before being forced to compromise with the Republicans to extend the Bush era tax cuts to all taxpayers.

The Republicans immediately reacted calling the vote as a tax hike on small businesses and families earning more than $250,000 and imposing more uncertainty on the nation’s job creators. John Boehner called the vote “Chicken Crap.” It appears that the lame duck Congress still can’t make chicken salad out of chicken crap!

Schneider Downs provides accountingtax, wealth management, technology and business advisory services through innovative thought leaders who deliver the expertise to meet the individual needs of each client. Our offices are located in Pittsburgh, PA and Columbus, OH. 

This advice is not intended or written to be used for, and it cannot be used for, the purpose of avoiding any federal tax penalties that may be imposed, or for promoting, marketing or recommending to another person, any tax-related matter.

You’ve heard our thoughts… We’d like to hear yours

The Schneider Downs Our Thoughts On blog exists to create a dialogue on issues that are important to organizations and individuals. While we enjoy sharing our ideas and insights, we’re especially interested in what you may have to say. If you have a question or a comment about this article – or any article from the Our Thoughts On blog – we hope you’ll share it with us. After all, a dialogue is an exchange of ideas, and we’d like to hear from you. Email us at contactSD@schneiderdowns.com.

Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.

© 2018 Schneider Downs. All rights-reserved. All content on this site is property of Schneider Downs unless otherwise noted and should not be used without written permission.

comments