Senate rejects Bush income tax extension [View All]

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Source: MSNBC.com

WASHINGTON - The Senate on Thursday gave a sweeping endorsement to some of President Bush's tax cuts but rejected renewing others as all three major presidential candidates interrupted their campaigns to cast key votes on the budget.

The chamber voted 52-47 to reject a move by Sen. Lindsay Graham, R-S.C., to extend Bush's tax cuts for middle- and higher-income taxpayers, investors and people inheriting businesses and big estates.

Arizona GOP Sen. John McCain, Republican presidential nominee-in-waiting, voted for the full roster of Bush tax cuts. Rivals Hillary Clinton, D-N.Y., and Barack Obama, D-Ill., both voted against them

On Capitol Hill, Democrats trumpeted their plan for putting the budget back in surplus while also making investments in infrastructure, education, community development, clean energy and other programs. It also avoids $196 billion worth of Bush-proposed cuts to Medicare and the Medicaid health care program for the poor and disabled.



Read more: http://www.msnbc.msn.com/id/23612342/

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The Democrats in the House plan on rejecting all of Bush's tax cuts.