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Congress Votes to Extend Some Tax Cuts

Congress extends for another five years President Bush's tax cuts reducing the so-called marriage penalty and boosting credits to those with children. The bill was approved by a 92-3 vote in the Senate and a 339-65 vote in the House. The cost of the package is estimated to be $146 billion.

Some lawmakers say they are concerned about adding to the budget deficit, but there's little opposition to cutting taxes a few weeks before the election.

Both President Bush and Democratic candidate John Kerry still pledge to cut the deficit in half, but many budget analysts insist that's unlikely. NPR's Jim Zarroli reports.

Copyright 2022 NPR. To see more, visit https://www.npr.org.

Jim Zarroli
Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.