HUFFINGTON POST
03/28/2008 02:43 am ET Updated May 25, 2011

Republican Leaders Abandon Tax Cuts For Middle Class, Focus On Cuts For Uber-Rich, Wall Street...

Republican lawmakers, facing the prospect that their power to cut taxes may soon be curbed, plan to extend breaks that mostly benefit the wealthy and Wall Street at the expense of reductions for middle-income households.

Six months before elections that may return a Democratic majority in at least one house of Congress, Senate Majority Leader Bill Frist of Tennessee and House Speaker Dennis Hastert of Illinois are focusing on extending the 15 percent rate on investments and repealing the estate tax. They won't push extensions of lower rates for all taxpayers and expanded breaks for married couples and families with children, which expire after 2010.

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