Obama Tax Cuts Move Forward In Congress

By doris | Published: January 23, 2009

Full Storly At  CBS News

(AP) Economic stimulus legislation at the heart of President Barack Obama’s recovery plan advanced in Congress Thursday over the persistent opposition of Republicans seeking deeper tax cuts than the administration and its Democratic allies favor.

“We are very pleased with the progress,” said Speaker Nancy Pelosi, D-Calif., after $275 billion in tax cuts cleared the House Ways and Means Committee on a party-line vote of 24-13. Democratic leaders have promised the measure will be ready for Obama’s signature by mid-February.

“It will create jobs immediately, and it will also lay the foundation for economic stability as we go forward,” Pelosi added.

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