Sunday, July 30, 2006

Minimum wage increase passes House


Republicans muscled the first minimum wage increase in a decade through the House of Representatives early Saturday after pairing it with a cut in inheritance taxes on multimillion-dollar estates. Combining the two issues provoked protests from Democrats and was sure to cause problems in the Senate, where the minimum wage initiative was likely to die at the hands of Democrats opposed to the costly estate tax cuts. The Senate is expected to take up the legislation next week. Still, Republican leaders saw combining the wage and tax issues as their best chance for getting permanent cuts to the estate tax, a top Republican priority fueled by intense lobbying by farmers, small business owners and super-wealthy families such as the Waltons, heirs to the Wal-Mart fortune. "This is the best shot we've got; we're going to take it," said House Majority Leader John Boehner, a Republican. The unusual packaging also soothed conservatives angry about raising the minimum wage over opposition by Republican business allies. The House passed the bill 230-180 before leaving for a five-week recess. Senate Minority Leader Harry Reid vowed Democrats would kill the hybrid bill, along with its 10-year, $300 billion-plus cost. "The Senate has rejected fiscally irresponsible estate tax giveaways before and will reject them again," Reid said. "Blackmailing working families will not change that outcome."

Full Story Here

0 Comments:

Post a Comment

<< Home