Posted by JM Ashby
The still democratic controlled House said no today to the new deal put forth by President Obama and Republican leadership.
By voice vote in a closed caucus meeting, Democrats passed a resolution saying the tax package should not come to the House floor for consideration as written, even though no formal House bill has been drafted. Rep. Peter DeFazio, D-Ore., introduced the resolution.
...House Speaker Nancy Pelosi said in a statement that House Democrats share Obama's "commitment to providing the middle class with a tax cut to grow the economy and create jobs." She noted that a House-passed bill, which Republicans blocked in the Senate, did not include "a bonus tax cut to millionaires and billionaires."
I admire Nancy Pelosi a great deal and I praise her commitment to principle, but idealism is not going to result in a passing of the legislation that would suit everyone. I predicted months ago that things would drag out and that we would simply end up with all tax-cuts expiring. Is that where we're headed?
The question is, is it worth it? Is it worth denying the Republicans their wealthy tax-cuts if it means losing tax-cuts for the middle class and having no extension of unemployment benefits? If the answer is yes, so be it. If the answer is no, what exactly is the gameplan moving forward? I haven't seen anyone spell that out. I have only seen a lot of angry rhetoric being lobbed in all directions.
It would be a safe bet in Vegas to say that if all cuts expire and we have no extension of unemployment benefits, there will be a chorus blaming the President for everything despite his current attempt to cut a deal.