Senate Passes Tax Package

The US Senate has passed a sweeping tax package that would save millions of Americans thousands of dollars in higher taxes for the next two years while reducing their Social Security taxes and extending jobless benefits. Despite her earlier vocal objections, Louisiana Senator Mary Landrieu joined with the Senate Democratic leadership and voted for passage.

Sen. Landrieu said:

“I still have serious concerns about borrowing nearly $50 billion to extend tax cuts for people making more than $1 million a year, but I reluctantly voted for the tax cut compromise because I strongly support extending lower tax rates for middle and working class Louisianians. The bill also contained a necessary extension of long-term unemployment benefits to help Americans who are out of work pay the rent, keep the lights on and feed their families while they look for a job.

“The bill has much room for improvement and I hope changes can be made in the House and into the next Congress. Thanks to commitments from Senators Baucus and Kyl, that work will begin early next year by swiftly extending the Go Zone Low-Income tax credits through 2012.”

The 858-billion-dollar measure now goes to the House where Democrats are still unhappy with certain elements of the bill.

LSU Political Communications Professor Bob Mann Professor Mann says he wouldn't be surprised if the package was given grudging approval.