|
|
"A comprehensive, collaborative elections resource."
|
More Dems back tax breaks for the rich
|
|---|
| Parent(s) |
Issue
|
| Contributor | Imperator |
| Last Edited | Imperator Aug 28, 2010 08:18am |
| Logged |
0
|
| Category | General |
| Author | Jennifer Liberto |
| News Date | Saturday, August 28, 2010 02:00:00 PM UTC0:0 |
| Description | WASHINGTON (CNNMoney.com) -- A wave of weak economic reports has prompted some Democrats to embrace a short-term extension of the Bush tax cuts -- even for the rich.
President Obama has been campaigning to extend the tax cuts for the middle class, while allowing the tax breaks for individuals who earn more than $200,000 a year and families who earn more than $250,000 to lapse
However, the Senate Democrats don't have the 60 votes needed to beat back a filibuster and pass Obama's tax plan, a Senate Democratic aide confirmed. Sen. Ben Nelson, D-Neb., Sen., Kent Conrad, D-N.D. and Sen. Joe Lieberman, a Connecticut Independent who caucuses with Democrats, have all recently said that raising taxes -- even for the rich -- doesn't make sense while the economy is faltering.
They all say they'd favor some kind of temporary extension of the Bush tax cuts -- for a year or possibly 18 months -- including for those in the top income bracket.
Friday topped off a week of economic bad news, including plunging home sales and a downward revision in the Gross Domestic Product numbers.
These reports are prompting more Democrats to call for all sorts of tax cuts, including those that benefit the wealthy.
Rep. Harry E. Mitchell, D-Ariz., said in a letter sent Friday to House Speaker Nancy Pelosi that he wants to make the Bush era tax cuts on capital gains and estate taxes permanent. |
| Share |
|
|
2¢
|
|
| Article | Read Full Article |
|
| Date |
Category |
Headline |
Article |
Contributor |
|
|
