Senate Passes Corporate Tax Bill
By MARY DALRYMPLE, AP Tax Writer
WASHINGTON - The Senate passed a $170 billion package of corporate tax cuts Tuesday, including provisions to head off a trade war with Europe and stimulate American manufacturing and energy production.
The bill carries other items, including a politically charged blockade against new overtime rules aimed at preventing President Bush (news - web sites) from stripping the premium pay from workers now eligible for the benefit.
The Senate voted 92-5 to pass the package. Tax writers said they hoped their actions would give much needed momentum to the House, which has struggled to amass support for its version of the measure.