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02/01/07--Sen. Edward M. Kennedy, D-Mass., during a news conference after the Senate capped a two-week debate by passing a bill that combines the first minimum wage increase in a decade with a package of tax breaks for small businesses. The legislation would boost the federal minimum by $2.10 an hour, to $7.25, in three steps over two years. It also would extend about $8.3 billion in business tax breaks for varying periods, with the costs offset by a new $1 million cap on how much tax-deferred compensation business executives can receive each year and selected other revenue-raisers. The 94-3 vote on the measure (HR 2) paves the way for potentially difficult negotiations with the House. Speaker Nancy Pelosi, D-Calif., guided a stand-alone wage increase through that chamber, and objected to the SenateÕs decision to attach the business tax breaks to it. Congressional Quarterly Photo by Scott J. Ferrell

02/01/07--Sen. Edward M. Kennedy, D-Mass., during a news conference after the Senate capped a two-week debate by passing a bill that combines the first minimum wage increase in a decade with a package of tax breaks for small businesses. The legislation would boost the federal minimum by $2.10 an hour, to $7.25, in three steps over two years. It also would extend about $8.3 billion in business tax breaks for varying periods, with the costs offset by a new $1 million cap on how much...
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