U.S. Senate clears measure to put tax cut bill on legislative fast track

WASHINGTON (AFX) - The U.S. Senate has approved a measure to put the tax cut bill on a legislative fast track.	    The Senate approved the measure, which is an amendment to the annual budget blueprint, by a vote of 51 to 49, with lone Democrat Zell Miller of Georgia joining all 50 Republicans.	    The budget resolution is an outline of proposed spending and tax policy, and is not binding. However, the so-called reconciliation amendment was crucial to prevent unlimited debate and power of amendment to the future tax bill.	    President George W Bush has proposed a 1.6 trln usd tax cut over ten years, which has met strong opposition from most Democrats, as well as objections from some moderate Republicans.	    While the House of Representatives has approved the central tenets of Bush's plan in three separate bills, the Senate has awaited passage of the budget resolution before starting work on the tax cut legislation.	    Yesterday, the Senate passed another amendment to the budget outline, which cut 447 mln usd from the proposed 1.6 trln tax cut, after three Republican senators sided with all but one Democrat to use the deducted amount for additional education spending and debt reduction.	    White House press secretary Ari Fleischer suggested the reduction could be added back to the budget outline in a later vote.	    Analysts noted the White House is likely to be lobbying the moderate Republicans to stick to the President's plan, while a centrist Democrat, John Breaux, is attempting to hold them in opposition, with the intention of crafting a compromise tax cut of around 1.2 trln usd.	    Most Democrats have endorsed a smaller, 750 bln usd tax cut.	    The final vote on the budget resolution is expected late tomorrow, according to a Senate majority leader spokesman. The Congress will then go on an Easter break, and is likely to begin debate on specific tax cut legislation in May. 

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