Congress Approves $69-Billion Tax Bill.

This article presents information on the tax bill that was approved by the U.S. Congress on May 11, 2006. The bill gained final congressional approval, when the Senate passed the bill 54-44. It would cut taxes by an estimated $69.1 billion over the next decade. The legislation focuses on extending current breaks, including a two-year continuation of current rates on capital gains and dividends and relief for an estimated 17 million taxpayers from the alternative minimum tax.