"Democratic officials: Fiscal 'cliff' deal reached" at AP

[applegrove]

Democratic officials: Fiscal 'cliff' deal reached at AP

http://bigstory.ap.org/article/fiscal-cliff-disputes-remain-deadline-nears

"SNIP..............................................


Officials in both parties said agreement had been reached to prevent tax increases on most Americans, while letting rates rise on individual income over $400,000 and household earnings over $450,000 to a maximum of 39.6 percent from the current 35 percent. That marked a victory for Obama, who campaigned successfully for re-election on a platform of requiring the wealthy to pay more.

Officials said any agreement would also raise taxes on the value of estates exceeding $5 million to 40 percent, but a late dispute emerged on that point as well as on spending cuts. Democrats accused Republicans of making a 11th-hour demand to have the $5 million threshold rise each year to take inflation into account. GOP officials said the White House had agreed to the proposal on Sunday night, a claim administration officials disputed.

Any compromise was also expected to extend expiring jobless benefits for 2 million unemployed, prevent a 27 percent cut in fees for doctors who treat Medicare patients and likely avoid a near-doubling of milk prices.

Much or all of the revenue to be raised through higher taxes on the wealthy would help hold down the amount paid to the Internal Revenue Service by the middle class

............................................SNIP"

[Jackpine Radical]

1. Well, Jeez, I hope they're at least gonna index it to the chained CPI--

"Democrats accused Republicans of making a 11th-hour demand to have the $5 million threshold rise each year to take inflation into account."

[RomneyLies]

2. It'll never get past the House

Watch, Boehner's caucus will crucify him if he brings it to the floor.

[Thinkingabout]

4. This could be a good thing for Boehner, if the TP votes no and enough Democrats votes yes

It just might give Boehner the backbone he has needed. The TP needs to go away and without the sane Republicans voting right it could bring about sanity again in Congress.

[unblock]

6. i expect he will bring it to the floor; the question is will he allow amendments or not.

allowing amendments means republicans will amend it to death and effectively filibuster it.
denying amendment likely means passage with most democrats and just enough republicans.

[RomneyLies]

7. It fails the Hastert Rule

No way will it get a majority of the Republican Caucus and under the Hastert Rule, no bill that does not get a majority of the majority comes to a vote on the floor of the House so long as the GOP controls the House.

If he brings it to the floor and it passes with a minority of the Republican Caucus, he will definitely lose his Speaker job.

[unblock]

8. raises an intersting possibility -- that same coalition that approves this vote...

could agree to keep boner as speaker as part of the deal.

not likely, but wouldn't THAT make things interesting!

hoo boy some tea bagger heads would explode if the democratic minority played king maker!

[Purveyor]

3. That's what I'm saying... eom

[Raidel]

5. Soooo

With the deal are bush tax expiring at least. It seems to me they have since rates are going up on the wealthy. Even though there will be less people in the pool....but at least some of them will be paying more. But I would like confirmation of the bush tax cuts expiring.