Tax Cut Bills Run Into a Buzz Saw
Republicans stood fast in the Senate to shoot down two attempts by Democrats to extend tax cuts for the middle class and let rates rise for wealthier taxpayers. Said one Democrat after the votes: "This is the ultimate game of chicken."
Republicans stood fast in the Senate to shoot down two attempts by Democrats to extend tax cuts for the middle class and let rates rise for wealthier taxpayers. Said one Democrat after the votes: “This is the ultimate game of chicken.” –JCL
Wait, before you go…Los Angeles Times:
In a rare Saturday session, Senate Democrats and Republicans remained at loggerheads over whether to extend the George W. Bush-era tax cuts to all taxpayers, ratcheting up the pressure on lawmakers to try to reach agreement before the tax cuts expire at the end of the year.
With Republicans unified in opposition, Democrats, as expected, fell short of the votes needed to overcome a filibuster and extend the tax cuts for all but the very wealthy.
An extension of the tax cuts to families earning less than $250,000 a year was defeated, 53-36, short of the 60 needed to limit debate. An extension of the 2001 and 2003 tax cuts to those earning less than $1 million annually was rejected, 53-37.
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