Will the deal make the surviving Bush tax cuts permanent?

[Faryn Balyncd]

A major tactical advantage for the President in the negotiations has been that the failure of a deal would trigger the expiration of all Bush tax cuts, and that as of January 1, all rates would revert to Clinton levels, which would negate the Norquist pledge and allow the President to propose a renewal of middle class tax cuts without the tax cuts to the 1%, placing Republicans in a bind.

The deal is said to postpone the sequester a mere 2 months.

A question:
By the terms of the deal, will all Bush tax cuts be (again) set to expire in two months, or will the compromise set new PERMANENT tax cuts on income up to $400K?

If the latter is true, will the deal diminish the negotiating position of the President in the next showdown in 2 months (by removing the fact that doing nothing will allow the expiration of the surviving Bush tax cuts on income up to $400)?

[bigdarryl]

1. This is what happens when the party doesn't have control over Congress

[octoberlib]

2. Yep. nt