WASHINGTON, Sept 24: Congress approved a 146-billion-dollar tax cut endorsed by both President George W. Bush and his rival John Kerry but criticized as a budget buster by some economists.

The House of Representatives voted 339-65 late Thursday for the measure, followed by the Senate, which endorsed the bill by a 92-3 vote. Earlier this week, House and Senate lawmakers in a conference committee approved a compromise plan to extend the expiring income tax cut provisions, while renewing some corporate tax breaks.

It marked the fourth major tax cut enacted by Congress at the urging of Bush, estimated to be worth $146 billion over 10 years. "I applaud Congress for taking action to keep our economic recovery on track and prevent a tax increase on nearly 94 million Americans, especially lower- and middle-income families," said Treasury Secretary John Snow.

Analysts said the bill may give Bush a political victory going into the November 2 election, but Kerry also endorsed the measure as offering middle-class relief. -AFP