Bank Tax Eliminated

Well, score one for alert anti-tax conservatives:

Congressional negotiators briefly reopened the conference proceedings on a sweeping financial regulatory bill on Tuesday after Senate Republicans who had supported an earlier version of the measure threatened to block final approval unless Democrats removed a proposed tax on big banks and hedge funds. Conference negotiators voted to eliminate the proposed tax and adopted a new plan to pay the projected five-year, $20 billion cost of the legislation.

The glass-half-full crowd will be pleased that another effort to pass a noxious, anti-growth tax has been stymied. The half-empty set will bemoan the fact that the bill can now be passed.

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Bank Tax Eliminated

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