Congress Finds Time to Lower Your TV, but Not Your Taxes

Congress Finds Time to Lower Your TV, but Not Your Taxes; InsiderOnline

On Thursday, the Senate passed a bill to regulate the volume of television commercials. That follows an earlier House bill to do the same. Meanwhile, Congress plans to adjourn without passing any legislation to prevent the tax hikes that will automatically occur on January 1, 2011. The economic stakes are significant. President Obama has proposed extending current rates for the middle class, while allowing the planned increases for high earners. But even that plan, according to Heritage Foundation research, will cost the economy $1.1 trillion over the period 2011-2020.