Tax Tyranny

Republican lawmakers have abandoned their attempt to push through a $70 billion tax cut package after House and Senate negotiators failed to reach agreement on the provisions of the bill ahead of the April Congressional recess.

The postponement of the talks means that lawmakers will not be in a position to approve important provisions such as extending the capital gains and dividend tax cuts for an additional two years, nor put in place an Alternative Minimum Tax 'patch' before the April 17 tax filling deadline, as had been hoped.