Talk about last-minute changes to the tax code! The primary purpose of the Emergency Economic Stabilization Act of 2008 (EESA) is to solve the credit crunch in the financial markets, but it’s also one of the biggest tax bills in recent years.
WASHINGTON — Small business gave its support to a $700 billion bailout plan in advance of the vote last week that pushed the bill through Congress. President Bush signed the bill into law on Friday to help relieve a growing credit crisis that threatens the nation’s banking system.
