WASHINGTON (AP) - Republican divisions in the Senate could complicate efforts to extend three of President Bush's most popular tax cuts this week. If allowed to expire, Americans could pay $50 more in taxes - and lose up to $300 in tax benefits for each child - next year.
Bush asked Congress to act quickly and extend popular tax cuts for parents, married couples and wage earners this week. The timing would put the president's tax reductions back in the spotlight as the election heats up and the Republican and Democratic parties hold conventions to nominate their presidential candidates.
A group of the Senate's Republican and Democratic moderates on Monday asked GOP leaders to consider the growing federal deficit as they work to safeguard the tax cuts.
"The last thing our hard working American families expect is a higher tax bill next year," said Sen. Max Baucus of Montana, ranking Democrat on the Senate Finance Committee. "Our bipartisan proposal is a roadmap to cut taxes without adding to our deficit woes."
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