Washington: The US Senate has rejected a Republican measure extending the tax rates in the Bush administration for everyone next year, including the nation’s highest earners.
The partisan 54-45 vote on Wednesday came during a campaign season battle between the two parties over wide-ranging tax cuts that will end in January without congressional action, AP reported.
Senators will vote shortly on a Democratic version that would deny the tax reductions in 2013 to individuals making over $200,000 yearly and couples earning at least $250,000.
Republicans said increasing taxes on the well-to-do would prevent job openings because many of those affected own businesses.
But Democrats termed the argument exaggerated, saying the rich have to contribute to deficit-reduction efforts.
The White House says if the tax rates are not renewed, families earning less than $250,000 would see tax increases averaging $1,600.
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