REAL ISSUES

Tax Deal Clears Senate Hurdle


December 14, 2010

Tax Deal Clears Senate Hurdle

Rick Moran

senate

Senate agreed on Monday to move the $858 billion bill renewing the Bush-era tax rates for all Americans to a final vote.

Regardless of what you think of the tax deal – and I know many conservatives are unhappy with it – the idea that come January 1st we would have seen a massive tax increase is, bottom line, unacceptable and the GOP managed to get out of the way of itself to get this done.

Politico is reporting the measure passed the senate:

President Barack Obama’s tax compromise with Republicans cleared its first major hurdle Monday, as the Senate agreed to move the $858 billion bill renewing the Bush-era tax rates for all Americans to a final vote.The Senate will vote on final passage Tuesday and send the bill to the House, where it is also expected to win approval, but not before Democrats attempt to make changes.

Speaking to reporters Monday, Obama called on the House to move forward without delay – but acknowledged that both liberals and conservatives had serious objections to the bill.

Some of those objections were spelled out by John McCain:

“Rather than just extend the tax breaks, which is what the majority of Americans want, we engaged in the continuing practice, which has alienated the majority of the American people, of loading up with unneeded, unnecessary, unwanted sweeteners in order to, I guess, get votes or satisfy special interests,” McCain said on the Senate floor. “I’ll vote for it, but it’s not what the people said they wanted done on Nov. 2.”

Business as usual? Or responsible governance?

We report – you decide.



Short URL: http://realissues.us/?p=1456

Posted by on Dec 14 2010. Filed under Jobs/Economy, Top Stories. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Leave a Reply

Homeless Houston

Archives Calendar

December 2010
S M T W T F S
« Nov   Jan »
 1234
567891011
12131415161718
19202122232425
262728293031  

Categories & Tags

Other Categories

Log in | Copyright © 2011 Real Issues Magazine