House Votes to Accelerate Married Couples’ Deduction
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WASHINGTON — The House on Tuesday overwhelmingly voted to begin raising the standard tax deduction for married couples sooner than scheduled under a tax-cut bill signed into law by President Bush.
The bill, approved by a vote of 409-1, would raise the standard deduction for married couples from the current 167% of the amount allowed single taxpayers, currently $4,700, to 170% over the next two years.
Under the $1.35-trillion 10-year tax cut signed into law last year by Bush, the standard deduction for married couples filing jointly gradually rises starting in 2005 until it reaches the level of 200% of the amount allowed single taxpayers in 2009.
The House measure would give married couples who qualify an extra tax break of $10 to $23 a year for two years, according to Democratic aides. Republicans, who control the House, argued the bill would help accelerate tax relief for married couples.
The bill passed Tuesday also consolidates two tax breaks for employers who hire welfare recipients and other low-income workers. The bill goes to the Democrat-led Senate, where it faces an uncertain fate.
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