The U.S. Senate defeated two proposals to cut business taxes Thursday.
In both cases, Democrats and Republicans accused the other side of political posturing.
First, the Democratic Senate rejected a Republican House bill to award a 20 percent income-tax deduction this year to every business that employs fewer than 500 workers.
Twenty-one GOP senators, including Sen. Dan. Coats, R-Ind., joined 52 Democrats in quashing the bill. Several Republicans said they were unhappy that the $46 billion measure was not paid for – meaning it would boost budget deficits – and that it complicated the tax code.
Sen. Richard Lugar, R-Ind., and 23 other Republicans voted in favor of the tax break.
Then the Senate voted 53-44, largely along party lines, in favor of a Democratic proposal to award $500,000 in tax breaks to businesses that hire more workers this year. The measure required 60 votes to advance.
Coats and Lugar voted against the proposal, which also would have let businesses deduct the entire cost of major equipment purchases.