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Dems Drop Millionaires Tax in Dispute
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| Contributor | Jason |
| Last Edited | Jason Dec 15, 2011 07:32am |
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| Category | News |
| Media | Weekly News Magazine - TIME Magazine |
| News Date | Wednesday, December 14, 2011 01:00:00 PM UTC0:0 |
| Description | (WASHINGTON) — Democrats backed away from their demand for higher taxes on millionaires as part of legislation to extend Social Security tax cuts for most Americans on Wednesday as Congress struggled to clear critical year-end bills without triggering a partial government shutdown.
Republicans, too, signaled an eagerness to avoid gridlock and adjourn for the holidays. With a bipartisan $1 trillion funding bill blocked at the last minute by Democrats, GOP lawmakers and aides floated the possibility of a backup measure to run the government for as long as two months after the money runs out Friday at midnight.
With time beginning to run short, Senate Majority Leader Harry Reid, D-Nev., met with President Barack Obama at the White House, then returned to the Capitol and sat down with the two top Republicans in Congress, Speaker John Boehner and Sen. Mitch McConnell of Kentucky. |
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