Released on = May 16, 2007, 10:16 am

Press Release Author = Walt Lecter/Carlton Hedges & Associates

Industry = Financial

Press Release Summary = A vote in the US House of Representatives has left the door
open to the partial extension of some tax cuts passed during the first term of
President George W. Bush\'s presidency.

Press Release Body = passed during the first term of President George W. Bush\'s
presidency.
In a non-binding vote on Tuesday evening, the House voted 364 to 57 to instruct
lawmakers negotiating a five-year budget plan with the Senate to abandon the
requirement that all of Bush\'s tax cuts be offset with tax increases elsewhere. This
effectively leads to the possibility of net tax cuts worth $180 billion in 2011 and
2012. However, lawmakers from both parties believe that Congress will be unlikely to
decide whether to extend the tax cuts until the next presidential election, due in
2008.
Carlton Hedges & Associates spokesperson, Walt Lecter, said in a statement that: \"It
demonstrates that 167 Democrats do not believe that continuing the tax relief must
be paired with other tax increases.\"
He further went on to say "The Senate version of the 2008 budget, agreed in a 97 to
1 vote during floor debate in March, includes similar provisions for a $180 billion
tax cut in 2011 and 2012, leaving room for the extension of a number of existing tax
measures, including the 10% tax bracket, the so-called \'marriage penalty\' relief, a
higher earned-income tax credit, an adoption credit, a higher child-care tax credit
and a lower estate-tax rate and higher exemptions."
He rounded off by saying "The vote signals that Democrats, who now control Congress,
are more receptive to the idea of extending tax cuts, after dire warnings from
senior Republicans that budget resolutions passed in both the House and Senate would
lead to a massive increase in taxation as the Democrats look to restore fiscal
discipline and add extra funding to entitlement programs."
Carlton Hedges & Associates provides financial advisory services to wealthy
individuals and families, select endowments, and corporate clients. Our independent,
fee only, conflict free \"open architecture\" consulting service combines a blend of
independence, tax awareness and extensive intellectual resources. Carlton Hedges &
Associates today is one of the best-recognized open architecture firms advising
clients on their investment portfolios and other wealth management issues.
With expertise in the Investment Banking industry, Carlton Hedges & Associates can
help you meet the challenges of wealth investment. Carlton Hedges & Associates is a
professional financial advisory and venture capital firm with expertise in Mergers
and Acquisitions, Investment Banking, Emerging Growth Companies, and Specialized tax
advisory services. Carlton Hedges & Associates provides powerful solutions for
growing your wealth in a complex market.

Carlton Hedges & Associates provides financial advisory services to wealthy
individuals and families, select endowments, and corporate clients. Our independent,
fee only, conflict free \"open architecture\" consulting service combines a blend of
independence, tax awareness and extensive intellectual resources. Carlton Hedges &
Associates today is one of the best-recognized open architecture firms advising
clients on their investment portfolios and other wealth management issues.

With expertise in the Investment Banking industry, Carlton Hedges & Associates can
help you meet the challenges of wealth investment. Carlton Hedges & Associates is a
professional financial advisory and venture capital firm with expertise in Mergers
and Acquisitions, Investment Banking, Emerging Growth Companies, and Specialized tax
advisory services. Carlton Hedges & Associates provides powerful solutions for
growing your wealth in a complex market.


Web Site = http://

Contact Details = Carlton Hedges & Associates
44 Wall Street, 21st Floor,
New York
NY 10005
+1-718-732-2850