Diet passes emergency tax hike for reconstruction

The Diet approved a bill Wednesday that will enable the government to raise income tax for up to 25 years to secure funds for reconstruction work following the March quake and tsunami.

The bill, approved last week by the Lower House, was endorsed by the Upper House, with Prime Minister Yoshihiko Noda’s coalition obtaining the cooperation of major opposition parties that dominate the Upper House.

Read the rest of the story: Diet passes emergency tax hike.

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