–House Majority Leader: Supports Extending Only Middle Class Tax Cuts
–Rep. Hoyer: Expects House To Take Up 90 Day UI Extension Bill Thurs
–Rep. Hoyer: ‘Disappointed’ Hill GOP Backed Out Of Meeting W/Obama
–Sen. McConnell Continues To Back Extension of All Bush Tax Cuts

By John Shaw

WASHINGTON (MNI) – House Majority Leader Steny Hoyer said Thursday
that “all sorts of options” will be under review as Congress and the
White House decide how to deal with the expiring Bush era tax cuts.

At a briefing, Hoyer said that he continues to believe that only
tax cuts for individuals making up to $200,000 and couples earning up to
$250,000 should be extended.

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

Hoyer said that tax cut ideas under discussion include raising the
threshold to $500,000 for the tax cut extension, extending all of the
Bush era tax cuts temporarily, or extending the middle class tax cuts
permanently and other tax cuts temporarily.

Hoyer said he has not had a “substantive” discussion with House
Republicans on tax policy since the election.

Hoyer said that extending all of the Bush era tax cuts for a decade
would cost $700 billion more than extending just the middle class tax
cuts.

That, he said, is a “huge chunk of change.”

Hoyer said he was “disappointed” that congressional Republican
leaders backed out of meeting Thursday with President Obama, citing
scheduling conflicts.

Hoyer made it clear that he did not find that explanation
persuasive. He said that whenever President Bush invited Democratic
leaders to the White House, they changed their schedules to accommodate
him.

Hoyer said the House will vote Thursday on a 90 day extension of
unemployment insurance benefits that expire Nov. 27.

Hoyer said the Democratic chairman of the House and Senate
Appropriations Committees are trying to determine if Congress should
pass a stop-gap spending bill to fund the government temporarily or try
to pass an omnibus spending bill that funds the government for the rest
of the 2011 fiscal year.

So far, Congress has passed none of 12 annual spending bills for
the 2011 fiscal year which began Oct 1. A stop-gap bill that funds the
government expires Dec. 3.

In remarks on the Senate floor, Senate Minority Leader Mitch
McConnell said he opposes an FY11 omnibus spending bill that would
combine all of the 12 bills into a single package.

McConnell also called for the extension of all Bush era tax cuts,
saying “nobody in America should get a tax hike.”

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

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