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Americans Want Congress To Address Tax Cut Extensions Before End Of Year

November 29, 2010 by  

Americans Want Congress To Address Tax Cut Extensions Before They ExpireMore than 80 percent of Americans believe that extending the George W. Bush tax cuts before they expire is "somewhat important," according to a new Gallup poll.

About 50 percent of respondents said that it is "very important" that Congress extend the tax breaks before the new year. The poll reveals that taxes top the list of important issues that Americans want lawmakers to address during the lame-duck session. Legislators have failed to come to an agreement on the Bush cuts, as many Democrats want to extend them for everyone except for the wealthiest earners, while most Republicans want them to continue for all Americans.

In an effort to reach an agreement before the Dec. 31 deadline passes, some Democrats have joined Republicans in demanding that tax cuts be extended for all income brackets.

According to CNN, American workers can expect some money to come out of their paycheck, regardless of whether the Bush cuts are extended or not. The news provider reports that the Making Work Pay tax credit, which was enacted last year, is set to expire at the end of 2010 and it is unclear if Obama will propose an extension.

More than 90 percent of working Americans have been helped by Making Work Pay, which has boosted annual income by about $400 for single filers and $800 for joint filers.

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