NO DEAL! Democrats in Senate dump on tax cuts
December 7th, 2010
Dingy Harry Reid to the World and Obama:
NO DEAL! Obama’s Tax Plan Doesn’t Get Past The Senate, Just Yet!
Senate Democrats will not accept President Obama’s negotiated deal with Republicans to extend the Bush-era tax rates in its current form, Majority Leader Sen. Harry Reid said Tuesday.
“The concerns are wide ranging, some dealing with matters other than taxes, frankly. But we weren’t able to work our way all through this today,” Reid told reporters after Vice President Joseph Biden visited the U.S. Capitol to pitch the president’s plan during a closed door meeting with Democrats. “We’re going to have to do some more work on it.”
The deal, which top Republicans have praised as a bipartisan effort to tackle a wide range of problems and Democrats have blasted as a devastating sign of capitulation, in part will extend the Bush-era tax rates for all for two years, fund unemployment benefits for 13 months and raise the estate tax to 35 percent for assets above $5 million.
After what Reid called a “healthy discussion” with the vice president, Reid said the White House still lacks support on Capitol Hill and made it clear that Obama’s deal was “only a framework.”
Source: The Daily Caller
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