The Senate on Thursday passed the Creating Small Business Jobs Act of 2010 (part of the Small Business Jobs and Credit Act, HR 5297) by a vote of 61–38, and sent it back to the House of Representatives. The bill as passed by the Senate differs from the version the House passed in June, with several provisions added, and some dropped, including a provision that would have required grantor retained annuity trusts (GRATs) to last for a term of not less than 10 years.
The Senate bill contains several tax items affecting small businesses and some revenue raisers.
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Catherine Austin Fitts’ Blog Commentaries
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