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WASHINGTON, DC - Nov. 1: Rep. Rahm Emanuel, D-Ill., Rep. Earl Blumenauer, D-Ore., and Rep. Chris Van Hollen, D-Md., talk as a roll call vote is taken on an amendment during the House Ways and Means markup of the tax bill. Private equity executives, venture capitalists, multinational corporations and hedge fund managers would bear the brunt of the year-end tax bill heading toward approval in the House Ways and Means committee on Thursday. The $79.4 billion bill (HR 3996) will be completely offset, if the committee approves the substitute amendment being offered by Chairman Charles B. Rangel, D-N.Y. The bill features a "patch" to the alternative minimum tax, which would prevent the one-time levy on high earners from expanding into the middle class and hitting an additional 20 million taxpayers in 2007. It also extends dozens of expiring tax provisions and enhances the refundability of the child tax credit. (Photo by Scott J. Ferrell/Congressional Quarterly).

WASHINGTON, DC - Nov. 1: Rep. Rahm Emanuel, D-Ill., Rep. Earl Blumenauer, D-Ore., and Rep. Chris Van Hollen, D-Md., talk as a roll call vote is taken on an amendment during the House Ways and Means markup of the tax bill. Private equity executives, venture capitalists, multinational corporations and hedge fund managers would bear the brunt of the year-end tax bill heading toward approval in the House Ways and Means committee on Thursday. The $79.4 billion bill (HR 3996) will be completely...
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