Negotiators began talks on the package Wednesday, shortly after the Senate passed its version of the plan. The package will cut tax rates, give new benefits for couples and families and phase out the inheritance tax. But while the Senate bill reduces the top income tax rate, the House version differs by offering tax relief earlier. Republicans hailed the tax cut as a necessary refund of a budget surplus to taxpayers and a boost to the shaky economy. But Democrats and other critics argue the plan is too costly and favors the wealthy.
Lawmakers hope to reach a compromise in the next few days.
President Bush has called for the final passage of a tax cut package by Monday, when Congress takes a week-long break. Email this article to a friend.