Dems Punt on Tax Cuts

After weeks of failed politicking, the Democrats have punted on tax cuts for the middle class until after the November midterm elections, succumbing to the fact that they do not have enough GOP support to push through a bill that has no accompanying tax cuts for the wealthy. —JCL

The Associated Press:

The White House and Democratic leaders in Congress said Sunday they would find a way to extend middle-class tax cuts after the November elections, unable to secure GOP backing before lawmakers break to campaign.

“One way or the other, we’re going to get it done. And I believe the pressure is going to build among the American people” said David Axelrod, President Barack Obama’s top political aide.

House Speaker Nancy Pelosi, D-Calif., had suggested that a vote could be held this coming week before lawmakers leave town for the elections. But her deputy, Majority Leader Steny Hoyer of Maryland, said Sunday that holding a vote wouldn’t matter because the legislation is still languishing in the Senate under GOP objections.

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House Speaker Nancy Pelosi, shown here in 2009, led a charge to pass a tax cut bill, but the legislation has now hit a roadblock in the Senate because of GOP opposition.