http://www.msnbc.com/news/906941.asp?0cv=CB10 WASHINGTON, May 15 — The Senate moved closer Thursday to passing Republican-drafted tax cut legislation when Vice President Dick Cheney broke a tie to approve a proposal to suspend taxes on stock dividends for three years. The vote sidestepped a major obstacle to Senate work on the $350 billion package of tax cuts, which, if passed, would still face difficult bargaining on a compromise between House members and senators.
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The main stumbling block in the Senate had been President Bush’s proposal to eliminate taxes on dividends. Sen. Don Nickles, R-Okla., broke the logjam by offering an amendment to go ahead with that tax break but phase it out after three years, answering the objections of moderate Republicans and conservative Democrats that the break would balloon the deficit.
Nickles’ plan would eliminate taxes on 50 percent of dividend income for one year, then eliminate the whole dividend tax for three years. The full tax would resume in 2007.
Dems have about 20 more amendments, most not germane. God, I hate how the Senate does business! It's like watching paint dry.
Thanks for clearing that up. I wonder what the heck Rick Fulbaum (?) was referring to.
BTW, I caught O'Reilly's promo in which he announced a fox exclusive -- they managed to get a copy of Hillary's college thesis, so stay tuned.