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Subscribe to RSSThe Boston Globe: “A bipartisan bloc of senators easily propelled President Obama’s tax cut compromise over a key procedural hurdle yesterday, clearing the way for a final Senate vote as early as today, and setting the stage for a potential showdown later this week among divided Democrats in the House.” The final vote was 83-15.
"The Washington Post adds, “Republicans and Democrats joined forces in the Senate on Monday to deliver the most significant bipartisan vote since President Obama took office, advancing a plan to extend tax cuts for virtually every American and to boost the economic recovery. The procedural vote could be followed by final Senate passage as early as Tuesday evening. If the bill sails through the Senate, as expected, the last hurdle would be the House, where liberal Democrats remain strongly opposed to continuing President George W. Bush's tax breaks for upper-income households as well as the generous terms of a revived estate tax."
Per NBC’s Kelly O’Donnell, the Senate Republicans who voted against the deal were: Tom Coburn (R-OK), John Ensign (R-NV), George Voinovich (R-OH), Jeff Sessions (R-AL), and Jim DeMint (R-SC).
The Democrats who voted against it: Jeff Bingaman (D-NM), Russ Feingold (D-WI), Kristin Gilibrand (D-NY), Frank Lautenberg (D-NJ), Patrick Leahy (D-VT), Bernie Sanders (I-VT), Mark Udall (D-CO), Sherrod Brown (D-OH), Kay Hagan (D-NC), and Carl Levin (D-MI).
Both Oregon Democratic senators did not vote: Jeff Merkley and Ron Wyden.
The New York Times: “Many Democrats had initially reacted furiously to the plan, but the rage seems to have yielded to resignation. Even House Democrats who remain opposed to the deal say they expect it to be approved within days, though they are still weighing plans to force votes on proposals to impose a steeper federal tax on large estates.”
Here are some handy charts on what the bill means based on your income from the Boston Globe.
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Now that Washington is on the move again we should all breathe a sigh of relief, just the thought of the end of grid lock renews my faith in government and this is a good thing. No one got all they wanted but everyone got something. So let us, all of us, lend a hand to get this ship back on the road to prosperity it feels good to see there is a light at the end of the tunnel; we can do this, yes we can.
God Bless America.
A banana republic is also characterised by a ruling class that curtails people's personal freedoms and is moving towards a heavyhanded military dictatorship under the excuse of fighting guerrilla (or terrorist) opposition groups or enemies. Moreover, the fact that the ruling class or the elite comes from different political parties isn't a relevant factor in classifying a country as a banana republic; what is relevant is the determination of the elite, irrespective of which party its members belong to, to shift wealth from the majority of the people (the masses) to themselves, usually through simply printing money and incurring chronic budget deficits, and frequently also through senseless warfare.
its time to let the cuts expire we can not do it any more. let them expire for everyone i make about 23,000 a year but we need to got out of this some how. if i have to pay more then so be it. we need to get all of these long time people out of office. we need to set terms for all people in office. not that it will changs be we have to do something.
Donnie McGirt.
America needs to quit its whining about neither side paying attention to the electorate. When pressed I'm sure many of them want miracles to happen to reduce our deficit while keeping your SS, Medicare/Medicaid and all your nice entitlements intact. Newsflash--no more miracles. JC and his 12 buddies are long gone! Now its time to get real and tackle these issues. And the road to recovery ain't tax cuts!
Many of you whiners are afflicted with short-term memories. You don't remember basic civics let alone the fact that you were hosed by Republicans several short years ago. And what did you do? You voted the lummoxes back in. We have to build a sound infrastructure with investment in things like education, roads, bridges, innovation, technology, etc. All that s**t cost money. Revenue generated from those endeavors when they are well-executed can ultimately help reduce the deficit and (believe it or not) create surplus. Until then you generate revenue to pay or fund many of them with a number of things including...hello, TAXES! We have neglected all that for the last decade or so spending all that money fighting full scale wars and whining about tax cuts rather than being strategic, planful or innovative. We haven't built a damn thing worthy of world recognition. If anything, we develop and export ideas to smarter world economies that are cleaning our clocks.
I'm not a millionaire or rich by any stretch of the imagination but this constant whine about tax cuts have to be checked against the reality that unless America gets off its lazy, tax-cut whining, "I got mine, you get yours", "F**k you, you're on your own", small government ass, we're heading for nothing more than one big fat, diabetic banana republic...with a kick-a$$ military. We can kick the crap out of anybody in conventional warfare (emphasis on conventional) but we import everything because we're not creative or innovative. Just 130+ million dumba$$es led around the nose by idiots, Tea Baggers and political loons in this mind-numbing, lunatic cycle.
The president got $28 Billion from TARP for building the infastructure last year and this year requested another $50 Billion. Where has that money gone?
Taxes are what they are, a political pawn. If everyone were required to pay, vice the 47% that do pay on top of state and local taxes, we would see alot more people betting themselves to afford to live.
Yo Chef Boy R Darrell-
You ever take a look at the specific things that TARP was earmarked for? Do you know over a third of the money went to...TAX CUTS! That's over $250B in tax cuts. Then we put aside a comparatively paltry sum of $28B for building and infrastructure!?!? S**t's been neglected and falling apart for decades and we think that's enough. As the thinking goes, give everybody a little more in tax cuts so they can stock up on God-knows-what and the rich get to invest a little more. Who gives a damn about whether the bridges and roads they take to the mall is safe? And we call that progressive?!? Taxes are more than a poltiical pawn. They are the opiate of the masses who think only of themselves rather than the collective growth and development of a progressive nation.
So what exactly are you whining about?