News and Events for Attorneys and Executives

House Reaches Accord on Spending and Tax Cuts

By on December 16, 2015 in Government, Tax

U.S. House of Representatives Republican and Democratic negotiators reached a deal late Tuesday on a $1.1 trillion spending bill and a huge package of tax breaks, reports The New York Times.

“Legislative drafters, racing a midnight deadline, met the time limit for issuing the tax package but apparently missed it for the spending bill. That could push back a vote on the House floor by one day, until Friday,” according to the report.

“Since the Republicans took back control of the House in 2011, a majority in the party has routinely opposed compromise budget and spending measures, forcing party leaders to rely on Democrats for votes to clear the bills. All signs indicate that the same dynamic is playing out now.”

Read the report.

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