WASHINGTON (AP) — The election-season battle in Congress over tax cuts set to expire in January has focused on Democratic demands to let taxes rise for the highest-earning Americans, and Republicans' insistence that the wealthy be protected from higher levies.
But there is a consensus between the two parties that for 2013, most people should not see tax increases. In fact, only around 30 million households face potential tax increases under either the Democratic or GOP tax bills the Senate is debating.
The Democratic measure would continue income tax cuts next year for everybody but individuals making at least $200,000 annually and couples earning over $250,000.
Republicans would include them in their tax cuts. But the GOP would not extend some tax breaks that Democrats favor for college students, children and low earners.