Final Tax Vote Up to House

The Senate has passed a 2-year extension of the Bush tax cuts which will now go in front of the House for a final vote. The good news is that it appears as if this bipartisan package will pass and every American will retain lower income, dividends and capital gains taxes which should help spur investment and economic growth. This is fantastic news, particularly for Gen Y investors who will be able to use the lower tax rates to their advantage and compound returns over a larger base. The next step for Congress heading into the 2012 elections should be making these tax cuts permanent.