Issue link: https://www.epageflip.net/i/21560
6B – Daily News – Friday, December 17, 2010 Final hurdle for tax bill: Is the end in sight? WASHINGTON (AP) — House Democratic leaders struggled Thursday night to clear legislation aimed at avoiding a Jan. 1 increase in income taxes, even as rank- and-file liberals argued vehe- mently it included an unfor- givable giveaway to the rich. ‘‘This bill is largely a mishmash of rejected Repub- lican ideas that cost too much to accomplish too little,’’ said Rep. Lloyd Doggett, D- Texas. ‘‘The Republicans will rule the House for the next two years; let’s not give them an early start today.’’ Doggett made his com- ments as the House began debate, but the speechmaking was interrupted after an hour so leaders could reassess the legislation’s prospects. Numerous officials said a vote was still likely Thursday evening, but a postponement to Friday also appeared possi- ble. The bill provides a two- year extension of tax cuts enacted when George W. Bush was president, avoiding an increase at all income lev- els that would otherwise occur on New Year’s Day. It would also renew an expiring program of benefits for the long-term unem- ployed, and enact a reduction in Social Security taxes for 2011 that would amount to $1,000 for an individual earn- ing $50,000 a year. The bill’s cost, $858 billion over two years, would be tacked on to the federal deficit, a sore spot with deficit hawks in both parties. The Senate approved the measure on Wednesday on a bipartisan vote of 81-19, scarcely more than a week after President Barack Obama announced he and Republi- cans had agreed on the gener- al outlines. It marked the first major reach across party lines since midterm elections in which Republicans won con- trol of the House and strengthened their Senate minority. Obama has urged the House to approved the mea- sure unchanged, calling the bill a good compromise with Republicans that would help the economy recover from the worst recession in decades while providing assistance to the unemployed. But his pleas have failed to satisfy critics in the House who are adamantly opposed to an easing of the estate tax, a concession Obama made to Republicans. As a result, Speaker Nancy Pelosi and the rest of the House Democratic leadership have spent recent days trying to satisfy liberals inside the party who want to kill — or at least change — the bill, with- out running the risk of having taxes rise for millions on Jan. 1. Republicans have left them little maneuvering room, warning they may walk away from their agreement with Obama if the measure is changed. a result. Rep. Peter DeFazio, D- Ore., one of the critics of the Obama-GOP agreement, said it is important for opponents to have the opportunity to vote on alternatives, even if they have no chance of pass- ing. ‘‘This is the last opportuni- ty we have,’’ he said, noting that Congress will soon adjourn for the year and Republicans will control the House in January. Nor was the tax bill the only priority that the White House and congressional leaders worked on as the year — and their control of both houses of Congress — neared an end. Temporary funding for the federal government expires over the weekend, and Democrats want to enact a pork barrel-stuffed spending measure before conservatives take over the House in Janu- ary. Obama still hopes to push ratification of a new arms control treaty with Russia through the Senate, and the White House and party lead- ers seek legislation to let openly gay servicemen and servicewomen remain in the military. The estate tax portion of the tax bill, as drafted, would allow $5 million of each spouse’s estate to pass to heirs without taxation, with the balance subjected to a 35 percent rate. Many Democrats favor an alternative to reduce the amount that can be inherited tax free to $3.5 million, and tax the balance at 45 percent. Supporters said that, if approved, the change would expose an additional 6,600 estates to taxes in 2011, and the government would collect $23 billion over two years as Other tax cuts, enacted in the past decade, include a more generous child tax cred- it, breaks for college stu- dents, lower taxes on capital gains and dividends and a series of business tax breaks designed to encourage invest- ment. All would be extended if the legislation passes. The jobless benefits that would be renewed would go to individuals who have been laid off more than 26 weeks but less than 99. Checks aver- age about $300 a week. Numerous business tax breaks that are due to expire would also be extended, as would a series of provisions relating to energy taxes. Among them is the federal subsidy for ethanol, support- ed by many veteran lawmak- ers from Midwestern states but targeted for cuts or possi- ble extinction by conserva- tives who will take office in January. MOTIVATED ~ BRING OFFERS! Tehama Country Real Estate THIS WEEK OWNER EXTREMELY Call Suzy Noble @ 530.527.2151 ext 103 or snoble@redbluffdailynews.com for all advertising specials REDUCED to $55,000 3 BD, 2 BA LOCATED IN A SENIOR PARK ON THE SACRAMENTO RIVER House of Realty, Jean Hall (530) 945-4404 DRE #006654241 WESTERN REAL ESTATE Commercial Properties For Sale: MINCH PROPERTY MANAGEMENT 760 Main St. • 530-527-5514 • 760 Main St. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,750 sq/ft • 840 Main St. (Or lease) Major Price Reduction! . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,400 sq/ft • 1870 Montgomery (Industrial) Major Price Reduction! . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Acres • Flores Ave/I-5 ( Industrial / Ag) Major Price Reduction! . . . . . . . . . . . . . . . . . . . . . 24, 53 or 62 Acres • 13545 Saint Marys Ave. (Or lease) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000 sq/ft • 409 Walnut Stree t "Or For Lease" . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4274 sq/ft Commercial Properties For Lease: • 455 S. Main Street 2.67 ac. (display room & shop) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000 sq/ft • 22680 Antelope Blvd. (Former Tire Shop . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,600 sq/ft • 562 Antelope Blvd. (Residence & Office) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,200 sq/ft • 1156 Monroe St. (Roll-up Doors) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,580 sq/ft • 460 Antelope Blvd. (Retail space available in Holiday Market) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 to 3,000 sq/ft • 731-741 Main St. ( Upstairs ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . various size suites • 349 Pine St. (Office retail space) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 819 sq/ft • 225 Walnut St. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000 sq/ft • 955 Main St. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,995 sq/ft • 22660 Antelope Blvd. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,000 sq/ft • 22686 Antelope Blvd. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,000 sq/ft • 726 Pine Street (warehouse) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,250 sq/ft Newer home in the country on 8 acres – just 6 miles from the center of Red Bluff. Open, split floor plan, 3/2, 2 car garage; 30x30 shop & 20x40 barn. Circular driveway, room for the horse trailer and RV! Fantastic views and private setting. $315,000 (530) 529-4111 DRE # 01174300 www.ucarea.net 658 Rio Street, Red Bluff Let’s go play in the SNOW! SAT., DEC. 18TH Or by appointment • 11:30 am - 1:30 pm Rio Vista Mobile Estates #92 ON THE RIVER, 2/2 Doublewide 1300 sqft $42,300 Call 527-7297 OPEN HOUSE C & C PROPERTIES 741 Main Street, Suite #2 Red Bluff, CA 96080 1-800-287-2187 (530) 527-2187 An Independently owned and operated Member of Coldwell Banker Residential Affiliates. FOR 24/7 PROPERTY INFO CALL 1-888-902-7253 AND ENTER THE PROPERTY CODE FROM THE AD. FORECLOSURES AND RESIDENTIAL HOMES UNDER $200,000 ~ $119,900 - 4 Bd, 2 Ba, - 1799 sq. ft. - prop code 4039 ~ $122,900 - 3 Bd, 1 Ba, - 1112 sq. ft. - prop code 4789 ~ $195,000 - 3 Bd, 2 Ba, - 1386 sq. ft. - prop code 4529 ~ $145,000 - 2 Bd, 2 Ba, - 1532 sq. ft. - prop code 4079 ~ $140,000 - 3 Bd, 2 Ba, - 1827 sq. ft. - prop code 4449 ~ $85,000 - 2 Bd, 1 Ba, - 768 sq. ft. - prop code 24449 ~ $122,900 - 3 Bd, 1 Ba, - 1112 sq. ft. - prop code 4789 ~ $95,000 - 3 Bd, 1 Ba, - 1156 sq. ft. - prop code 4069 ~ $149,900 - 3 Bd, 2 Ba, - 1080 sq. ft. - prop code 4289 ~ $108,000 - 3 Bd, 1 Ba, - 1184 sq ft - prop code 4239 ~ $129,900 - 3 Bd, 2 Ba, - 1450 sq. ft. - prop code 4109 ~ $155,000 - 3 Bd, 2 Ba, - 1560 sq. ft. - prop code 2412 www.redbluffcoldwellbanker.com See All Tehama County Listings at TEHAMA COUNTY REAL ESTATE TEAM • OPEN 7 DAYS A WEEK Get Results! Put your ad in Tehama Country Real Estate THIS WEEK