This is why we need a Republican majority...

Majority Republicans have reached agreement in principle on legislation to extend tax cuts on capital gains and dividends for two years and keep 15 million middle income taxpayers from getting hit with a tax designed for the wealthy, GOP aides said late Tuesday.
[...]
The tentative agreement on the first bill would provide $70 billion in tax relief by extending for two years the 15 percent reduced tax rate on capital gains - the profits from the sale of assets - and stock dividends.

These tax cuts were due to expire in 2008 but would be extended until 2010.

The tentative agreement also includes a one-year extension to protect many middle income taxpayers from having to pay the alternative minimum tax when they file their 2006 tax returns.

President Bush had made extension of the tax breaks for investors a top priority. He has also called on Congress to make permanent all of his first-term tax cuts, which are now set to expire in 2010.

If Democrats were in control, they'd be debating how deep in our pockets they would reach...

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