The House just passed the rule for debate on the tax cut bill, by the count of 214-201. This rule was pulled from the floor earlier today, but that was apparently due to a large kabuki dance by liberal Democrats. They wanted to be able to vote against the underlying bill even if their amendment to the estate tax provision passes. There’s pretty much no chance that the amendment will pass, so it’s kind of a moot point. But the House liberals insisted, so they got an amendment to the rule to change that up, which passed by a count of 230-186. Liberals apparently asked for other changes to the rule, like more amendments, but didn’t get them.
Three hours of debate are expected for the bill, and then two votes – one, the aforementioned amendment to change the estate tax provisions of the bill, and two, the vote on the bill itself. It’s almost certain that the House will pass the same exact version of the bill as the Senate later on tonight. The Congress can work quickly when they want to.
The bill will extend all the Bush tax cuts for two years, add an employee-side 2% cut to the payroll tax (about 1/3 of the employee responsibility), bring back the estate tax at a 35% level for estates over $5 million for two years, extend unemployment benefits for 13 months, enact a series of small business tax provisions on bonus depreciation and R&D, and extend a slew of other small tax breaks, including one for ethanol producers. All in all, the bill will cost $857 billion dollars over a two-year period. It will effectively raise taxes on 1 in 3 workers, those at the poorest end of the income scale making under $20,000 a year (or $40,000 for households), and will give a $139,000 tax cut to every millionaire in America. Many are also concerned that reducing the payroll tax cut will give conservatives an avenue to further call into question the long-term finances of Social Security and make major changes to the program.
The bill is almost certain to be accompanied down the road by major spending cuts, either in conjunction with the Fiscal Year 2012 budget or a vote on raising the debt limit. Republicans, having starved the government of tax revenue, will seek to shrink government and cut spending on the most vulnerable Americans. This has been their modus operandi for thirty years. A strongly Democratic Congress and a Democratic President will help them usher it in.
I hope the “stimulus” is worth it, or at least that which doesn’t get canceled out by spending cuts in short order.
UPDATE: HuffPost Hill is claiming that the estate tax amendment will be a tight vote. I’m just not seeing it. Bear in mind that, if the estate tax amendment does miraculously pass, it basically screws up the entire deal. Republicans will bolt on final passage, the whole thing would have to go back to the Senate, and there will be much wringing of hands.




42 Comments

Support this site!
Subscribe to the newsletter
Advertise on Firedoglake
Send
us your tips
Make us your homepage
About FDL News Desk
Let there be the much ringing of the hands then!
Don’t do it Democrats. And don’t grovel and apologize-blame the guy that set the deal- our arrogant president. He can blame himself if he loses in 2012. I care now about our people and our security and quality of life which seems to be of no concern for these irresponsible representatives.
Mr. Camp- what a…. he needs a real job- to be off on his own and not on the public dole swinging deals for the Chamber. Not much liked in northern Michigan.
Congratulations, Nancy, Louise , Raul and all you other self-described House liberals and progressives.
Instead of sternly worded letters, we get meaningless sternly voted
protestmessage votes.You could have stopped the bill in its tracks, but now own this disaster,
which will be the subject of hundreds of well-deserved attack ads in 2012.
Edit: not to be outdone, the padded cell on the
other side of the Capitol chimes in.
Kabuki Bullshit in…Kabuki bullshit out!
Could the spineless-corporate-owned-stooge-Dems be any more transparent?
Democrats = The willing Washington General’s of politics.
Dreaming of bedlam . . .
One point on the inheritance tax. It’s always discussed as a $5 million exemption, but I read somewhere today that if it goes to a couple, the exemption is $10 million. Is this correct?
Perhaps that is when the state is one of community property like CA and LA.
No, it’s a straightforward bypass trust, in any state.
here’s that sense of helplessness again…
WTF Dems – is there no issue that you will stand your ground on?
I think the consultants and the rich won this round, and the american people have lost.
Yep everything is normal, and yes scrarecrow it changes as more more family memebers are involved.
They have won ever round since ronnie-ray-gunn.
” The Congress can work quickly when they want to.”
Which is exactly why those sonsabitches infuriate me.
they are standing thier ground. hasnt that been thoroughly established? we can make assumptions about individuals like sanders or ben nelson but individually none of them matter. they are basically a syndicate in collusion with the moneyed interests that supply or threaten them with money. there is no hope within the system. better work on trying to build a movement as far outside of it as possible, then smash our way in.If they dont suspend popular elections in the next 10 years or sooner.
Yes, that is correct. Another thing no one talks about is the reintroduction of stepped-up basis. It is a very big deal.
Very few people understand TGT.
With friends like the democrats who needs enemies. I had no doubt that this was going to play out exactly how it did. Nancy, Obama, Harry, Mitch, Durbin, etc. they are all corrupt to their core. The democrats never voted on extending UI benefits for the 99ers but they rushed to make sure the Bush tax cuts were extended. You got to laugh to keep from screaming.
Oh, heck, what’s another trillion dollars that we don’t have, given to people to don’t need it? Hey, it’s Christmas! Cuts for everyone! Tax cuts for those that have, benefit cuts for those that don’t. What could be fairer than that? And all that stuff that you just couldn’t find the time for during the last two years, just ram it all through in the last few days.
Oh sweet fucking hell.
They have a guy on O’donnel saying, “Now that liberals are attacking him, Obama can appear to be a centrist and hopefully the centrists will luuuuubbbbbb him.
They’re encouraging the Al Jolson in chief to keep attacking the liberal base to look more centrist.
There aren’t enough terrible things that could happen to O’donnel and the Obama apologists on the show with him.
this is what is so fucking galling. The Rich reap and the poor weep. Totally fucking disgusting, the US/congress/White House has failed the American people once again… spit…. spit.. fucking a big green goober on all of Washington for approving such an abortion..
They sure do keep the pot of discontent BOILING!!
right you are.
oh god stop watching that shit. odonell and his useless “guests” have nothing to say that anyone needs to hear.odonnel, mathews, etc., are just village idiots.
How 2012 is going to look?
99ers will be living on main street (record homeless)
Foreclotures will break records
Social Security would have been cut
Medicade would have been cut
Riots in the street of the USA
Obama will be lying about cutting the BUSH tax cuts, he passed in 2010
23 democrat senators will be lying about how they want to kill the bush tax cuts they pass in 2010
What are progressives going to do?
We need to plan our KABUKI for 2012 now!
for example call your local senator and tell them, you want to pass out some flyers, once they give you the flyers walk down the street in throw them in garbage can :) this will make you feel great!
tell your local DEM you want to volunteer to make some calls, when your time comes to make your calls, call in sick :) he or she screwed you, screw them
tell your local DEM you want to put out some signs, once you get the signs burn them :) they enjoy burning you
we can’t let the DEMS in congress have all the laughs!
progressive in 2012 we need to do some KABUKI DANCING! :)
Harry Reid just gave up on the budget package, meaning that all they’ll do now is a continuing resolution to fund the government through mid-February. If you’re upset about the tax deal, just wait until you see the budget that will end up being passed by the House in February.
How 2012 is going to look?
step 1 99ers will be living on main street (record homeless)
step 2 Foreclotures will break records
step 3 Social Security would have been cut
step 4 Medicade would have been cut
step 5 Riots in the street of the USA
Im thinking it will take a year longer, but i can live with your timeline.And before anyone rolls out the fainting couch, THATS PRECISELY WHAT IT TOOK,in 63-64 and in 68. Mistakes were made, but so was progress. I believe no less a “visionary genius” than Donald Rumsfeld (where is donald anyway?) said “hey, Democracy is messy”
O’donnell is trapped in the 90′s
Someone needs to ask O’Donnell how will americans view commercials that feature 2008 OBAMA vs 2010 OBAMA?
Is middle america going to call him a liar? yes
Black candidates that lie, don’t win re-election. (Black Candidates don’t win re-elections statewide when they don’t lie)
Obama can hook up with Sarah Palin, ride around with Clarence Thomas, he has no chance of winning! :)
Obama please run, you think your Kabuki is good, wait until 2012.
(the GOP and Left are both going to have fun laughing at OBAMA)
O’Donnell does not get it, ESPN is on at 10:00, ask Chris Matthews.
(Neo-Liberal TV is like Neo-Liberal votes they don’t exist out side of the belt way)
“I hope the “stimulus” is worth it…”
Hope?
“Abandon all hope, ye who enter here…”
There will be no “stimulus” and everyone knows it. The American people are being robbed of everything, and our elected officials are all members of the gang of thieves. They have stolen the Future of America. This is the end of our country.
Cenk Uygur recently pointed out that if McCain had won the Presidency (but not Congress) and tried to extend the Bush tax cuts for the rich, Democrats would have stopped him. Somehow with a Dem in the White House we’re worse off. Maybe it’s time for me to check out of politics again, it’s too perverse.
Oh yes, let those hands (w)ring like the Liberty Bell. Well, like it would ring if it was not cracked and non-useful, like our liberties sometimes. I would love to see the scramble, though, if those badly needed estate taxes were not fixed. Congress people moving at a pace unseen for a long time and trying to preserve that Holiest of Holidays, which commercially lasts until after the new year, that other holiest of holidays when the GOP could seek their retaliation and shut down this God-forsaken government where a obedient politician can collect for his support of the financial sponsors, another of those holiest of holidays. Is there no respect for the holidays?
I think Cenk is wrong about that. The purchase of both parties was enabled by the Citizens United ruling.
Adam Green said that Nancy Pelosi worked her little butt off to get the votes to pass the BUSH TAX cuts! :) you got to love pure EVIL
Nancy is the only person on the planet that would pass 400 bills and let Harry Reid kill them in the SENATE, and buy Harry Reid Dinner. ( a normal person would have hated the ground Harry Reid walked on, Not Nancy)
how many house members up re-election in 2012?
23 democratic senators up for re-election in 2012
Please, please, please. The best thing for America is to let Obama’s backroom deal with Republicans die. This, of course, assures its passage.
if the estate tax amendment does miraculously pass, it basically screws up the entire deal.
yes – but that would be a happy ending – and our popular black president does not allow happy endings for the middleclass.
Polls by subgroup show blacks think he is the greatest – still. There is no hope for a primary in 2012 if that remains there opinion. And indeed re-election by being not as bad as the other guy – despite four years of proof that destruction a GOP president could not do was done while you were president – will occur.
I tire of politics – American in the year 2010 style.
Rush Holt describes what the 2% payroll tax is really about. It’s the ‘end-around’ of the catfood commission, which itself is an ‘end-around’ of congress.
WTF??? Cutting taxes on those making more than $200K while raising taxes on those making less than $20K – do I have this right, guys? Surely this cannot be right. But it is, and it’s beyond shameless, disgusting and unconscionable – it’s pathetic. Anyone not clear on the fact that there’s a war against the poor right now is beyond help…or hope. (Listening, Obama?)
And while the tax cut bill may help stimulate the economy in the short run, most analysts say it won’t lower the unemployment rate by that much. Some projections call for a drop of only about 1.5% in 2011, followed by a possible rise in 2012, just around the time the 13-month unemployment compensation extension expires.
As some have said, politics is too perverse. The rise in the homeless and in foreclosures will be a real demarcation point between the old America and the new, ultra-fucking shitty one. You know, the one that is dismantling – brick by brick – what little social safety net for the poor that we ever had.
Everybody who votes on this bill, or signs it, was elected to his or her current term before Citizens United.
** “Trickle-down economics” failed altogether in 2008 with Wall Street bail-out.
The reps’ Economic Plan = Going Back to Failed Bush Economic Policy
Republican congressman Mike Pence says Tax cut package won’t help create jobs !
Back when Bush was pushing his tax cut packages through Congress in 2001 and 2003, supporters said the cuts (which weren’t balanced with spending reductions) would initiate an era in which the American economy would grow so robustly the nation would be running a surplus of more than $5 trillion at the scheduled expiration date. U.S. now is facing a $14 trillion deficit.
In sharp contrast, Former President Bill Clinton left a record surplus, despite the warning of potential economic disaster over tax increase for the wealthiest.
** Investment in Education, Energy, & Infrastructure.
Let’s be clear. These tax cuts will do little or nothing to stimulate the economy despite the hollow claims of Congressional Republicans and conservative pundits. According to a Moody’s report, making the Bush tax cuts permanent will lead to 30 to 35 cents of economic stimulus for every $1 U.S. give up in federal revenue. That’s a very poor investment. By comparison, revitalizing the nation’s infrastructure or extending unemployment benefits will lead to roughly $1.60 in economic stimulus for each $1 U.S. spend.
Sanders’ amendment calls for stripping out the tax breaks for the wealthiest 2 percent. That money would have instead been spent on deficit reduction and infrastructure needs.
These enormous tax cuts have led to record federal deficits, contributed to the government’s current financial woes, and have not helped many Americans who face the greatest financial burdens,” Leahy said,
“Assurances at the time to the contrary, the Bush tax cuts failed to ‘trickle down’ to help those Americans most in need, while the wealthiest 2 percent of Americans benefited substantially.”
Bill Clinton’s lasciviousness cost Dems the White House in 2000. There wouldn’t have been any Bush tax cuts to extend without Clinton’s lechery.
The Obama tax cuts for the rich bill has passed both houses and is waiting for the President’s signature.
Do you have any idea how incredibly delicious this is for a conservative like me?
Roll it off your lips:
“The Obama tax cuts for the rich”
Hell I don’t like it anymore than you liberals because of the irresponsible spending that is in the bill along with the tax cuts for the rich. However, it’s worth it to hear:
Obama’s tax cuts for the rich.
I knew congress will fold after getting their due share of pie and then join the party. See self-preservation is more important than the future of the country or the principles. I see very few in the senate and congress showing principle.
When future looks back if it is able to withstand the fall in living standards this will be regarded as a time where the people in DC partied writing public debt checks, kleptocrating and disabling peoples possible social security savings, ignoring plight of working people who are working 2 to 3 40hr min wage jobs per week by hitting them with higher tax rates, doing the best to facilitate bailouts & fed exchanges for ious, handing out mandates to mainstream without anti-trust oversight. Cannot trust anything the administration or MSM says. They suppress important information but spend hours discussing trivial stuff as if world needs it. We did make unhealthy slide in public comments from Fake WMD (GWB) to Fake Public Option (Pres Obama). So far most harmful for Americans was Fake Public Option where the Americans could have bought health care services at affordable prices but now got mandates, first time in the history of humanity to a unelected private entity where they do not any say in how the premiums are set.
For the love of God, can we start a real 3rd party now? Can we contest Obama now? What more does he need to do to undermine any sense of liberal or Progressive cause to motivate the people to stand up to him.
We can’t go into 2012 with voting either for Obama or whoever the Republicans put up there. Obama, Pelosi and Reid are all miserable failures and should be cast out.
Hey where are all the supports of Pelosi tonight? Where is all that talk about what an effective Speaker she was? All bullshit. Pathetic.
So called liberals and progressives who continue to support and vote for her need to start taking responsibility for doing so. Shes shown over and over again that shes corrupt to the core and a two faced liar and hypocrite and uses and abuses her base to stay in power so she can make deals like this. People wonder why things dont change in this country. Maybe if you stopped reelecting the same terrible people over and over and over again maybe things would change for once.
Why progressives and liberals arent calling for obamas impeachment is beyond my understanding at this point. He is so vastly worse then bush its not even a joke. And why they continue to be so stuck on the absolutely terrible democrats is also something i dont understand. At this point id prefer a republican as president as at least theyre honest about their contempt for democracy and openly try and destroy it. The democrats lie through their teeth and then sell all their supporters up the river any chance they get and laugh at them while they are doing it.
Anyone have the roll call vote with the 139 traitors. That way we can sift through the ones who already lost like Boucher and find the ones who need to be primaried so they can “practice” fight. Since they apparently need lots and lots of practice.
This was all for NOTHING!!! They should have just passed the damn thing and sent it back to the Senate. What a bunch of BS!!!
http://www.huffingtonpost.com/bob-cesca/are-progressives-losing-t_b_797470.html
Read and thi about it!!!