Cutting it Close to the Election

Tax cuts -- right before the election. Of course Congress will be bipartisan. Republicans pushed to extend middle class tax cuts they originally set to expire this year. But they didn't offer added relief to working families that the Democrats wanted. Said it was too expensive, at $4 billion. So they only extended the three middle class cuts -- and 20 corporate tax breaks worth tens of billions. The Guardian has a list of the highlights. President Bush rejected a deal offered by Democrats and moderate Republicans to close corporate tax loopholes -- to pay for the extensions of the middle class tax cuts. (CNN)