Senate Sets Final Tax Cut Votes for Noon

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Senate Majority Leader Harry Reid's office said late Dec. 14 that the final series of votes on the extension of the 2001 and 2003 tax cuts will begin at noon on Dec. 15. The voting will begin on three motions to suspend the rules before advancing to the final vote on the legislation. The $859 billion bill would extend all existing individual income tax rates for two years, as well as retain the 15 percent tax rate on dividends and capital gains, and raise the alternative minimum tax exemption level through 2011.