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Carlton Hedges Applauds the U.S House Vote for Tax Cut Extensions - A vote in the US House of Representatives has left the door open to the partial extension of some tax cuts passed during the first term of President George W. Bush's presidency
Carlton Hedges Applauds the U.S House Vote for Tax Cut Extensions

 

NewswireToday - /newswire/ - New York, NY, United States, 2007/05/16 - A vote in the US House of Representatives has left the door open to the partial extension of some tax cuts passed during the first term of President George W. Bush's presidency.

   
 
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In a non-binding vote on Tuesday evening, the House voted 364 to 57 to instruct lawmakers negotiating a five-year budget plan with the Senate to abandon the requirement that all of Bush's tax cuts be offset with tax increases elsewhere. This effectively leads to the possibility of net tax cuts worth $180 billion in 2011 and 2012. However, lawmakers from both parties believe that Congress will be unlikely to decide whether to extend the tax cuts until the next presidential election, due in 2008.

Carlton Hedges & Associates spokesperson, Walt Lecter, said in a statement that: "It demonstrates that 167 Democrats do not believe that continuing the tax relief must be paired with other tax increases."
He further went on to say “The Senate version of the 2008 budget, agreed in a 97 to 1 vote during floor debate in March, includes similar provisions for a $180 billion tax cut in 2011 and 2012, leaving room for the extension of a number of existing tax measures, including the 10% tax bracket, the so-called 'marriage penalty' relief, a higher earned-income tax credit, an adoption credit, a higher child-care tax credit and a lower estate-tax rate and higher exemptions.”

He rounded off by saying “The vote signals that Democrats, who now control Congress, are more receptive to the idea of extending tax cuts, after dire warnings from senior Republicans that budget resolutions passed in both the House and Senate would lead to a massive increase in taxation as the Democrats look to restore fiscal discipline and add extra funding to entitlement programs.”

Carlton Hedges & Associates provides financial advisory services to wealthy individuals and families, select endowments, and corporate clients. Our independent, fee only, conflict free "open architecture" consulting service combines a blend of independence, tax awareness and extensive intellectual resources. Carlton Hedges & Associates today is one of the best-recognized open architecture firms advising clients on their investment portfolios and other wealth management issues.

With expertise in the Investment Banking industry, Carlton Hedges & Associates can help you meet the challenges of wealth investment. Carlton Hedges & Associates is a professional financial advisory and venture capital firm with expertise in Mergers and Acquisitions, Investment Banking, Emerging Growth Companies, and Specialized tax advisory services. Carlton Hedges & Associates provides powerful solutions for growing your wealth in a complex market.

Carlton Hedges & Associates provides financial advisory services to wealthy individuals and families, select endowments, and corporate clients. Our independent, fee only, conflict free "open architecture" consulting service combines a blend of independence, tax awareness and extensive intellectual resources. Carlton Hedges & Associates today is one of the best-recognized open architecture firms advising clients on their investment portfolios and other wealth management issues.

With expertise in the Investment Banking industry, Carlton Hedges & Associates can help you meet the challenges of wealth investment. Carlton Hedges & Associates is a professional financial advisory and venture capital firm with expertise in Mergers and Acquisitions, Investment Banking, Emerging Growth Companies, and Specialized tax advisory services. Carlton Hedges & Associates provides powerful solutions for growing your wealth in a complex market.

 
 
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Written by / Agency / Source: Carlton Hedges And Associates

 
 

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Carlton Hedges Applauds the U.S House Vote for Tax Cut Extensions

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Publisher Contact: Walt Lecter - CarltonHedgesAndAssociates.com 
718-732-2850 info[.]carltonhedgesandassociates.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Carlton Hedges And Associates securities in any jurisdiction including any other companies listed or named in this release.

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