–Senate Democratic Leaders Say Tax-Cut Debate Must Wait Until November
–Key Senate Dem Leader Says ‘Can’t Do Anything’ on Taxes’ Before Elect
–House Speaker Pelosi Says Possible To Bring Up Tax Extension Next Wk

By John Shaw

WASHINGTON (MNI) – As congressional Democratic leaders departed
Washington for the weekend, they left behind something less than a clear
message or strategy on how they will proceed with the Bush era tax cuts
of 2001 and 2003 which expire at the end of the year.

Senate Majority Whip Dick Durbin said Thursday that the “reality”
is that Congress will not be able to pass any tax cut package before the
elections.

In comments to reporters after a Senate Democratic luncheon to
discuss tax policy, Durbin said the chances of passing a tax cut bill
before the end of next week is “very slim.”

“Nothing is going to happen on taxes” before the Nov. 2 elections,
Durbin said. Durbin noted that the Bush tax cuts expire at the end of
the year, so a delay of a few weeks is not a major problem.

A spokesman for Senate Majority Leader Harry Reid issued a
statement later in the day, vowing to bring up the tax cut matter after
the mid-term elections.

“Democrats believe we must permanently extend tax cuts for the
middle class before they expire at the end of the year and we will,” the
spokesman, Jim Manley said in a statement.

“We will come back in November and stay in session as long as it
takes to get this done,” he added.

However, House Speaker Nancy Pelosi, at her weekly briefing Friday,
refused to say that the House is also going to defer a vote on tax cuts
before the elections.

She said a vote on extending the middle class portion of the Bush
tax cuts would be “clarifying” for voters and added that holding a vote
in the House is still possible next week.

“We will take it one day at a time,” she said.

The Obama administration and congressional Democrats have
repeatedly said that tax cuts for individuals making up to $200,000 and
couples earning up to $250,000 should be extended.

Congressional Republican leaders have supported extending all of
the 2001 and 2003 tax cuts.

House Democratic leaders had been saying for several weeks that
they would wait for the Senate to act before deciding on how they to
deal with the tax cut issue.

** Market News International Washington Bureau: 202-371-2121 **

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