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Friday, December 28, 2012

Report: Obama to Offer Tax Increase For People Earning $400k+ At Today's Fiscal Cliff Meeting





At 3PM today (only three days, 9 hours before we go over the cliff) President Obama will be siting down with congressional leaders from each party and according to Bloomberg news will offer a short-term plan which in all probability will not make conservatives and/or Republicans happy---after all it still seems like class warfare...just a smaller class:
The offer Obama plans to make to congressional leaders includes renewing George W. Bush-era tax cuts for household income up to $250,000 a year though Democrats may be willing to move that income level to $400,000 a year, according to a Senate aide close to the talks. Both aides spoke on condition of anonymity.

“Some kind of grand, comprehensive bargain looks unlikely, but there are some steps we could take” immediately to address the changes, Republican Senator Pat Toomey of Pennsylvania said today on Bloomberg Television. “We’ll probably muddle through; I don’t think we’ll have some catastrophic event on Jan. 2.”

The plan would extend unemployment insurance benefits set to expire at the end of the year, prevent a cut in Medicare reimbursements to doctors and head off an expansion of the alternative minimum tax, said the Senate aide.

It would delay or replace part of scheduled federal spending cuts, most likely the defense portion, the aide said.




Whether the offer is acceptable to the GOP or not (and shouldn't be), I predict that Boehner will bring something to the floor before time runs out.  The question is will he oppose it, whip it, or ask the GOP to vote present and allow the bill to pass via Democratic party votes only?

1 comment:

PRH....... said...

Shove it where the Sun Don't Shine....Nobody needs their taxes increased, so your boy can save face. Cut Spending/Cut Taxes!