On Capitol Hill, House and Senate Republicans have agreed on a new tax bill critics say will disproportionately favor the wealthiest Americans. The $70 billion dollar measure would extend the 15 percent tax rate on capital and dividends until the year 2010. According to the Tax Policy Center, households earning more than $1 million dollars would save $42,000 dollars in taxes. Meanwhile, households earning around $45,000 dollars would save $46 dollars.
Republicans Reach Agreement on Controversial Tax Bill
HeadlineMay 10, 2006