The Middle Class Tax Relief and Job Creation Act of 2012 may be the last piece of tax legislation we’ll see this year. That is, unless Congress decides to pass an AMT patch, reinstate the extenders, bonus depreciation, or institute the Obama administration’s just-proposed corporate tax reform.
As an election year proposition, it was a foregone conclusion. Who could say no to a working-class tax break that was already in place? (Well, actually, 132 voted against it in the House, and 36 Senators voted ‘no.’)
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