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House passes extension on middle class tax cuts.


Traconesu02
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House passes bill to extend Bush-era tax cuts to middle class

By Felicia Sonmez Updated: 5:15 p.m.

The House on Thursday passed a bill that would extend the Bush-era tax cuts only to the middle class, a mostly symbolic measure that nonetheless allows Democrats to draw a contrast with Republicans on the issue.

The bill passed by a 234-to-188 vote, with 20 Democrats bucking their party to oppose the measure and three Republicans voting in favor. The proposal would extend the Bush-era tax cuts only to individuals earning $200,000 or less per year and families earning $250,000 or less.

Democrats had pushed it to a vote this week in an effort to make the case that Republicans are holding an extension of the middle-class tax cuts hostage to an extension of cuts for higher earners. Republicans have slammed Democrats for the move, accusing them of undermining bipartisan negotiations this week on reaching a compromise on the tax cuts.

Earlier Thursday, House Speaker-designate John Boehner (R-Ohio) called the vote "chicken crap."

The bill stands little chance of passing in the Senate, where Republican leaders have vowed a filibuster.

"Regardless of what the majority forces House Republicans to do, it's not going to go anywhere," Senate Minority Leader Mitch McConnell (R-Ky.) told reporters Wednesday night. "We are going to extend the current tax rates; we're not going to raise taxes on anybody. The only thing we're discussing now is just how long that extension will be."

The White House praised the vote Thursday afternoon but cautioned that negotiations on the tax cuts are ongoing.

"The President continues to believe that extending middle class tax cuts is the most important thing we can do for our economy right now and he applauds the House for passing a permanent extension," White House Press Secretary Robert Gibbs said in a statement, adding that "any reports that we are near a deal in the tax cuts negotiations are inaccurate and premature."

Earlier Thursday, 33 Democrats defied their party leadership by voting against the rule governing debate on the tax-cut bill because they wanted to vote on an extension of the cuts for all income levels, not just the middle class.

The test vote narrowly passed by 213 to 203, but the number of Democrats bucking their party was significant; among those voting against the measure were 21 members of the conservative Blue Dog Coalition.

Four of the Democrats who voted against the earlier test vote -- Reps. Gerry Connolly (Va.), Gary Peters (Mich.), Jim Himes (Conn.) and Jason Altmire (Penn.) -- wrote a letter to Pelosi urging a bipartisan solution to the tax cuts issue.

In the letter, the four advocated for a one-year extension of the tax cuts for all income levels and a permanent extension for middle-class earners.

"While those in the highest income brackets comprise only two to three percent of American taxpayers, economists estimate that they are responsible for 25 percent of national consumer spending," the four congressmen wrote. "As retailers and other businesses continue preparations for the holiday season, and employers make seasonal staffing decisions and consider possible raises and holiday bonuses for their employees, now is the time for action."

var entrycat = '44 The Obama Presidency

'http://voices.washin...-extend-bu.html

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Correct me if i'm wrong, but this should keep our capital gains tax rate down, which in turn, should be a real benefit to the people invested in Dinar.

This is a question for your tax consultant. I will have a load of them once this RV's.

They just look at you kind of funny when you talk about the dinar at this time.

Also at the time of the RV I will be able to afford the best money can buy too.

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I don't know about you all but when I was in the civilian world, I never received a job from a middle class person... I am a middle class person and before you all bash me I don't mean hauling hay or cleaning out stables I did that but I am talking about jobs with real benefits Obama is such an idiot...

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I don't know about you all but when I was in the civilian world, I never received a job from a middle class person... I am a middle class person and before you all bash me I don't mean hauling hay or cleaning out stables I did that but I am talking about jobs with real benefits Obama is such an idiot...

The middle-class deserve a tax cut. The rich has had there taxes cut for the last 10 years and they still haven't created any jobs, so why should they have them extended. This is the top 2% of the income earners and correct me if I am wrong but I don't think any of us are in that top 2 percent if you were then you wouldn't be waiting on this RV.

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The middle-class deserve a tax cut. The rich has had there taxes cut for the last 10 years and they still haven't created any jobs, so why should they have them extended. This is the top 2% of the income earners and correct me if I am wrong but I don't think any of us are in that top 2 percent if you were then you wouldn't be waiting on this RV.

First of all, you dumb liberal I work for the ***********, Secondly, most of us have investments in other places like Gold and are diversifying our portfolio if anyone is thinking this a sure bet for tomorrow then you are wrong... this whole thing is a risky investment and most of us just put in as much as we are willing to bet like in a poker game... just ask any REAL investment manager. Thirdly jobs are being created every day by people making just over the $250,000 mark that Obama so arrogantly supports do you know who those people are.... SMALL BUSINESS PEOPLE. Those people are the ones who are not in the top 2% and by the way the people in the top 2% companies like Wal-Mart, K-Mart, Target, etc. NEWS FLASH they are still hiring if you need a job, Hey the Burger King on post here is hiring every day... The problem is people thinking they are too good for jobs that require WORK not setting behind a computer posting LIBERAL PROPAGANDA all day... Do all of us a favor and keep your Liberal KOOL-Aid to your self AMERICA ISN'T DRINKING ANY MORE!!!!!

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First of all, you dumb liberal I work for the ***********, Secondly, most of us have investments in other places like Gold and are diversifying our portfolio if anyone is thinking this a sure bet for tomorrow then you are wrong... this whole thing is a risky investment and most of us just put in as much as we are willing to bet like in a poker game... just ask any REAL investment manager. Thirdly jobs are being created every day by people making just over the $250,000 mark that Obama so arrogantly supports do you know who those people are.... SMALL BUSINESS PEOPLE. Those people are the ones who are not in the top 2% and by the way the people in the top 2% companies like Wal-Mart, K-Mart, Target, etc. NEWS FLASH they are still hiring if you need a job, Hey the Burger King on post here is hiring every day... The problem is people thinking they are too good for jobs that require WORK not setting behind a computer posting LIBERAL PROPAGANDA all day... Do all of us a favor and keep your Liberal KOOL-Aid to your self AMERICA ISN'T DRINKING ANY MORE!!!!!

I think you should soldier up and go ask those top 2 percent to give you a job being that they are creating so many at this time. I see the unemployment rate is up to 9.8% and they still have their tax break in place, I am pretty sure they still will not be hiring anyone if they were to keep their tax rate the same. Lets turn this into a third world country where the you have the extremely rich and everyone else will be on the side of the street begging for food.

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