–Senate Majority Leader Sees Several Senate Votes on Tax Cuts
–Senate Democrats Will Press For Middle Class Tax Cut Extension
–‘Happy’ to Give GOP Vote on Extending All Bush Tax Cuts
By John Shaw
WASHINGTON (MNI) – Senate Majority Leader Harry Reid said Thursday
he expects the Senate to hold “some votes” on alternative tax cut
packages when Congress reconvenes after Thanksgiving.
At a briefing, Reid said Senate Democrats continue to support
extending the Bush era tax cuts for those individuals making $200,000 or
less and couples making $250,000 or less.
He said he is not certain if the Democratic plan would be to
extend these tax cuts permanently or for a shorter time.
Reid said he would be “happy” to allow a Senate vote on a
Republican alternative that would extend all the Bush era tax cuts,
including those for higher income people.
The Senate Republican plan would cost $4 trillion over a decade, he
said. Analysts have noted the Senate Democratic plan would cost about
$3.2 trillion over the same period.
Reid said Democrats will “fixate” on ways to pass middle class tax
cuts and other steps to boost the economy, and he expects the White
House to support the Senate Democratic plan.
President Obama has been sending signals since the mid-term
elections that he is willing to back down from his long-held position
that the Bush tax cuts be extended only for those individuals making
$200,000 or less and couples making $250,000 or less.
Incoming House Speaker John Boehner and Senate Minority Leader
Mitch McConnell repeated again Thursday that all Bush era tax cuts
should be extended.
** Market News International Washington Bureau: (202) 371-2121 **
[TOPICS: M$U$$$,MFU$$$,MCU$$$]
