Wednesday, February 7, 2007

Democratic Agenda Unfinished

Major items remaining:

  • Alternative Minimum Tax: Democrats have vowed to protect middle-class households from the alternative minimum tax. The tax was created in 1969 after it was discovered that 155 households with incomes over $200,000 had used deductions, shelters and other gimmicks to erase their federal tax liability.

  • Social Security: With the Social Security system forecast to start losing money in a decade -- and to run out by 2040 -- Democrats are united in how they do not want to fix the problem: They reject President Bush's idea to divert some of the system's payroll taxes so that working adults could invest that money in private retirement accounts.

Of course, none of the First 100 Hours agenda is yet law, and only one of those bills has reached conference after passing the Senate (H.R. 2), all of the agenda remains unfinished.

However, considering that the House for its part has passed the legislation, these items would be next up in keeping with their 2006 campaign promises.

0 comments:

Related Links