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The week's question
In December 2024, in the thread "Re: BRK: Why Not XOM?", BreckHutHigh asked the members: "What about the long road trips with kids?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Halls of Shrewd'm / US Policy
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Author: MisterFungi   😊 😞
Number: of 84351 
Subject: Re: 50 million to 1
Date: 08/22/24 3:21 PM
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Forced on him by a Republican congress.

C’mon man. EVERY Republican in Congress opposed the plan. Hell, I opposed a lot of it. But let’s at least tell the truth, ok?

Wikipedia:
In proposing a plan to cut the deficit, Clinton submitted a budget and corresponding tax legislation (the final, signed version was known as the Omnibus Budget Reconciliation Act of 1993) that would cut the deficit by $500 billion over five years by reducing $255 billion of spending and raising taxes on the wealthiest 1.2% of Americans.[5] It also imposed a new energy tax on all Americans and subjected about a quarter of those receiving Social Security payments to higher taxes on their benefits.[6]
Republican Congressional leaders launched an aggressive opposition against the bill, claiming that the tax increase would only make matters worse. Republicans were united in this opposition, and every Republican in both houses of Congress voted against the proposal. In fact, it took Vice President Gore's tie-breaking vote in the Senate to pass the bill.[7] After extensive lobbying by the Clinton Administration, the House narrowly voted in favor of the bill by a vote of 218 to 216.[8] The budget package expanded the earned income tax credit (EITC) as relief to low-income families. It reduced the amount they paid in federal income and Federal Insurance Contributions Act tax (FICA), providing $21 billion in savings for 15 million low-income families.
Clinton signed the Omnibus Budget Reconciliation Act of 1993 into law on August 10, 1993.[9] The law created a 36 percent to 39.6 percent income tax for high-income individuals in the top 1.2% of wage earners. Businesses were given an income tax rate of 35%. The cap was repealed on Medicare. Gas taxes were raised 4.3 cents per gallon. The taxable portion of Social Security benefits were also increased.
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This community has written 84,309 posts about US Policy. The article-length ones it recommended most:
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