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The U.S. Senate has overwhelmingly approved a sweeping1 federal tax bill that will swell2 America's national debt by hundreds of billions of dollars and, it is hoped, stimulate3 a lagging U.S. economy. Attention now shifts to the House of Representatives, where some Democrats4 want to alter the tax deal struck between President Barack Obama and congressional Republicans.
In a rare show of bipartisanship, the Senate voted 81 to 19 to extend existing federal tax rates for all income levels. Those tax rates are set to rise beginning next year - an outcome neither party wants at a time of chronic5 economic weakness. The bill also extends federal jobless benefits, limits inheritance taxes on multi-million-dollar estates, and trims worker payroll6 contributions to Social Security. The bill would increase spending and shrink revenue, sharply boosting federal indebtedness over the next two years.
A common refrain from liberal and conservative senators alike: The tax deal is flawed, but better than doing nothing.
Republican Senator Jon Kyl of Arizona said, "Nobody thinks this is a perfect bill."
The senator explained his "yes" vote this way: "While any increase in the deficit7 is unwelcome, the overall merits of this bill, including preventing a massive tax increase - one for each and every taxpayer8 - outweigh9 [concerns about] that deficit increase, in my opinion."
At the other end of the ideological10 spectrum11, California Democratic Senator Barbara Boxer12 said dire13 economic conditions make the tax deal necessary. "I voted for this bill because I think our economy continues to be in a fragile state when it comes to job growth."
A handful of Republicans who opposed the deal objected to extending unemployment benefits without corresponding cuts in spending to offset14 the cost.
Meanwhile, Independent Senator Bernie Sanders of Vermont voted "no" to protest what he sees as tax giveaways for the super-rich. "We are in the process of providing huge tax breaks to the wealthiest people in this country, to drive up the national debt, which our kids and grandchildren will have to pay off."
Sanders was one of several senators to offer amendments15 ahead of the vote, none of which were adopted.
The House of Representatives also is expected to vote on the tax package, but it is not clear whether the chamber16 will alter the bill as it currently exists. Any changes would send the package back to the Senate for another vote.
Economists17 view the tax bill as stimulative18, and some forecasters say the package could boost U.S. economic output by one percentage point next year. But it will add to America's trillion-dollar federal deficit at a time when polls show Americans worried about soaring U.S. national debt.
While voting for the tax bill, Virginia Democratic Senator Mark Warner said Congress must address the fiscal19 imbalance. "It is time for us in the Senate, and excuse the language, to put up or shut up [act or be silent]. We can do short term stimulus20 now, but next year engage in meaningful tax reform and deficit reduction."
President Obama has championed the tax bill as an imperfect, but necessary bipartisan compromise to fuel economic growth. If enacted21, the measure effectively postpones22 thorny23 tax issues until 2012, when Mr. Obama presumably will be running for reelection, and Republicans hope to take control of both the White House and the Senate.
1 sweeping | |
adj.范围广大的,一扫无遗的 | |
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2 swell | |
vi.膨胀,肿胀;增长,增强 | |
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3 stimulate | |
vt.刺激,使兴奋;激励,使…振奋 | |
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4 democrats | |
n.民主主义者,民主人士( democrat的名词复数 ) | |
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5 chronic | |
adj.(疾病)长期未愈的,慢性的;极坏的 | |
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6 payroll | |
n.工资表,在职人员名单,工薪总额 | |
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7 deficit | |
n.亏空,亏损;赤字,逆差 | |
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8 taxpayer | |
n.纳税人 | |
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9 outweigh | |
vt.比...更重,...更重要 | |
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10 ideological | |
a.意识形态的 | |
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11 spectrum | |
n.谱,光谱,频谱;范围,幅度,系列 | |
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12 boxer | |
n.制箱者,拳击手 | |
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13 dire | |
adj.可怕的,悲惨的,阴惨的,极端的 | |
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14 offset | |
n.分支,补偿;v.抵消,补偿 | |
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15 amendments | |
(法律、文件的)改动( amendment的名词复数 ); 修正案; 修改; (美国宪法的)修正案 | |
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16 chamber | |
n.房间,寝室;会议厅;议院;会所 | |
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17 economists | |
n.经济学家,经济专家( economist的名词复数 ) | |
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18 stimulative | |
n.刺激,促进因素adj.刺激的,激励的,促进的 | |
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19 fiscal | |
adj.财政的,会计的,国库的,国库岁入的 | |
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20 stimulus | |
n.刺激,刺激物,促进因素,引起兴奋的事物 | |
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21 enacted | |
制定(法律),通过(法案)( enact的过去式和过去分词 ) | |
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22 postpones | |
v.延期,推迟( postpone的第三人称单数 ) | |
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23 thorny | |
adj.多刺的,棘手的 | |
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