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  • Italian Government OKs Income Tax Cuts (pushed by Berlusconi)

    11/26/2004 9:51:14 PM PST · by FairOpinion · 13 replies · 584+ views
    Yahoo News ^ | Nov. 27, 2004 | AP
    ROME - The Italian government approved $8.6 billion in tax cuts for 2005 Saturday, state radio reported, ending partisan debate that at one point had prompted Premier Silvio Berlusconi to threaten to resign. Opposition parties slammed the cuts approved by Berlusconi's Cabinet in the early hours Saturday, arguing they will unfairly favor the rich and will be canceled out by tax hikes in other areas. Berlusconi, who had pleged to cut income taxes before the next election, had reportedly resolved rifts over the plan earlier in the week. But he threatened to step down amid continuing disagreements over the package....