$70 Billion Dollar Tax Cut Passed

The Republican Congress continues its path of cutting taxes while spending big with the passage of a $70 billion tax cut for the wealthy and eliminating the $5.1 tax increase for oil companies that would ahve gone to education credits. They also dropped tax breaks for research and development. Interesting how a tax cut for everyone seems to mostly favor the rich and big business while leaving out useful credits for such things as education and R&D. All of this would be fine and dandy if government spending wasn't out of control. The equation is simple, if Republicans want to cut taxes, they should be forced to cut spending.