White House Negotiators Pushing To Include 'Obama Tax Cuts' As Part Of Any Compromise

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from Tapper at ABC: http://blogs.abcnews.com/politicalpunch/2010/12/administration-pushing-to-add-the-obama-tax-cuts-to-the-bush-tax-cut-negotiations.html


December 02, 2010 5:00 PM

____ Sources say there was a long staff meeting this morning in which not only the Bush tax cuts were discussed, but a whole host of other tax issues that need to be dealt with before the end of the year, ones that Geithner is pushing to be part of any larger tax agreement, ones the White House considers the “Obama tax cuts,” since so many of them are part of the president’s agenda or were started by his administration.

“It’s a whole laundry list of other issues you might describe as brush clearing,” an administration official said, listing a number of tax credits and tax cuts, many of which are set to expire, including:

* The Alternative Minimum Tax;
* The Making Work Pay Tax Cut – this is the “invisible payroll deduction” – the part of the stimulus bill everyone said the White House should have just written big checks for;
* The American Opportunity Tax Credit (higher education tax credit);
* The Earned Income Tax Credit;
* Extenders for the Research & Experimentation tax credit;
* Bonus depreciation (expensing) – this doesn’t expire but the White House thinks it’s good for the economy;
* The HIRE Act – a tax credit for hiring people;
* Build America Bonds, which changes the tax treatment for municipal and state financing, allowing them to raise money for projects; and
* Energy tax credits (solar and wind energy tax credits are set to expire).

“Over two years these provisions will have nine times the economic impact as the high end Bush tax cuts,” a White House official said today.


read more: http://blogs.abcnews.com/politicalpunch/2010/12/administration-pushing-to-add-the-obama-tax-cuts-to-the-bush-tax-cut-negotiations.html

[Liberal_Stalwart71]

1. I don't give a shit what he does, as long as he doesn't cave on the Bush tax cuts.

The House passed the middle class tax cuts. They should rebrandish them as "The Obama Tax Cuts." End of story.

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3. Congress is poised to compromise on those cuts. The President is trying to make the best of it.

They'll try and pass a middle class tax cut extension by itself , but that looks like it won't pass the Senate cloture vote to get to an actual vote. The Senate will compromise and the President can certainly veto that compromise. He won't because that will allow the middle class portion of the tax cuts which affect millions of Americans to expire.

The republicans want to make the upper-class cuts permanent. The republicans will almost certainly cave on that pledge.

[Liberal_Stalwart71]

4. Make them filibuster! That's my answer. It takes 51 votes! Not 60!

Sick of Reid and that excuse! 51 votes!!

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5. who's going to 'make them filibuster'

They don't want to end in a deadlock and let the cuts effectively expire. That's their position.

[Liberal_Stalwart71]

7. Then, they're weak-ass cowards, and I'm tired of it! If the shoe were on the wrong foot,

the Republicans would make them filibuster.

The Senate rule is: IT TAKES A SIMPLE MAJORITY TO PASS LEGISLATION!! PERIOD!!! PERIOD!! PERIOD!!!

51 votes!! Not 60!!

Then, throw it back in Boehner's face who said that he WOULD vote for a tax cut for $250,000 and below!

[Cali_Democrat]

6. I like that idea

:thumbsup:

[glitch]

2. These are good. K & R nt