Yesterday the House put themselves on the record on the Bush tax cuts, ensuring that the issue will extend into the lame duck session and that the election, in large part, will determine the course of action.
The House approved a one-year extension of all the Bush tax cut rates, rejecting a Democratic bill already passed by the Senate that extended only the tax rates on the first $250,000 of income. The partisan breakdown is worth looking at. On the Democratic amendment to extend just the first $250,000, no Republicans broke ranks, while 19 Democrats voted against it. The final vote was 170-257. The Democratic names who crossed the aisle should be familiar to you:
Altmire, Barrow, Boren, Chandler, Cooper, Costa, Cuellar, Donnelly, Kissell, Matheson, McIntyre, McNerney, Owens, Peterson, Ross, Schrader, Shuler, Thompson, Walz
Let me particularly highlight Mike Thompson, from a deep-blue district on the northern California coast, and Jim Costa, who represents one of the poorest districts in America, in California’s Central Valley. The slavishness toward millionaires is pretty revolting.
A similar group of 19 voted with Republicans to extend all the Bush tax cuts for one year. That vote was 256-171. Only Tim Johnson voted against it among Republicans. Here were the Democratic defectors:
Barrow, Bishop, Boren, Boswell, Chandler, Connolly, Costa, Critz, Cuellar, Donnelly, Kissell, Loebsack, Matheson, McIntyre, McNerney, Owens, Peterson, Ross, Walz
Doing some sorting, there’s a small group of members of the House who voted against the tax relief across the board, both for an extension of the first $250,000 of income and a full one-year extension. Those are the people on the first list who didn’t appear on the second list, as well as Republican Tim Johnson. That list is:
Tim Johnson, Altmire, Cooper, Schrader, Shuler, Thompson
And these are the only true fiscal conservatives. By their votes, they want the Bush tax cuts to expire totally, voting against any attempt at extension. At least they’re honest about it.
But the tax cut bill put forward by Republicans had “other purposes,” per the Congressional euphemism. It also set up a process to radically alter the tax code within one year, with fast-tracking through the Senate without a filibuster included. And, it also would raise taxes on about 25 million Americans by reducing some tax credits, like the child tax credit, the tuition tax credit, and the Earned Income Tax Credit.
In other tax news, the Senate Finance Committee will mark up a $152 billion “tax extenders” package today which includes several tax breaks for businesses and even that principal reduction tax exclusion issue. But a wind energy tax credit was removed, stalled due to Presidential politics (Romney opposes the extension). And it’s far from clear whether the House would act on a tax extenders bill, even if it got through the Senate. The tax extenders bill would patch the alternative minimum tax, an annual ritual in Washington, at a cost of $92 billion (most of the package, actually). this was seen as a key part of the fiscal cliff negotiations in the lame duck.
The larger point is that the lame duck will be largely determined by the course of the election. Both the House and Senate are on the record on their respective positions on the Bush tax cuts. The winner of the Presidency will go a long way toward determining who will prevail.




23 Comments

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Let’s play another round of rotating villain! They could have let them expire… Proving once again that if you throw out your TV and stop reading political sites, it probably wont make any difference in your life at all.
huh? how so? looks sealed to me.
fixed it.
Not to worry.
Obama will win the election.
Then we can start worrying again.
6, Count em 6 true fiscal conservatives in the entire House. All the teabaggers are walking piles of fake, phony, contradictory, hypocritical excrement. Truly amazing that the Repukes can cry over the deficit and the unfair burden to billionaires then vote for more tax cuts and hammer the poor and middle class. Soulless fucks.
they are the obama tax cuts, bush’s expired
the course of action is already determined, obama will keep his tax cuts or mitt will make them his, either way the redistribution of middle class assets will continue
Capitol Hill Democrats have mastered the art of political kabuki. They have enough progressive members to create the misleading impression that they’re “the party of the people.” However, when crunch time comes, the leadership makes pre-emptive concessions to the right and tells the rank and file “we tried hard, really, but the votes weren’t there.”
The sooner this pathetic excuse for a party folds its tent, the better.
Don’t bet on it.
Any house measure will not pass the senate and vice-vesa. To quote my good friends here, just Kabuki.
Sad, but true. One thing the Democratic Party will fight for is its perpetual existence. It’s a classic example of the Iron Law of Institutions.
Indeed. Let’s conmtinue to move the money UP the ladder. Trickle UP economics. The rich get richer and the poor get poorer. ‘Spose we might just as well print that on the money.
Sorry, but I’m for a return to Clinton-era taxation, but I’m not fiscal conservative just I oppose Obama Starving the Beast while being Mr Austerity. If you really want stimulate the economy give strong support for the Social Safety net as that is the best stimulus around – like giving unemployment checks to those who would otherwise have no income at all is far more stimulative than giving a tax break to someone pulling in $200K. These tax cuts let Obama create his own crisis (by getting Democrats on the austerity bandwagon) where he then takes it out of the hides of those least able to protect and defend themselves since attending just one Hollywood Obama fundraiser would be more than their entirely yearly incomes even when they were working.
Thanks for the post, but I must respectfully submit that these are NOW the Obama Tax Cuts for Billionaires.
I dislike inaccuracy and propoganda whether it’s on Fake Noise or here at FDL.
I must have said the same thing at least twenty times. And I also said that the President would always cave to the One Percent.
As I recall, President Obama gave the Rich People a special bonus, increased the deficit, and shifted the financing of the Wars to the Ninety Nine Percent. The Rich People do not believe they should pay for the Wars, they started.
Why did the President give the Rich this windfall? Because, he would have hurt Peter Peterson’s feelings and Petey would have a Sad having to pay taxes.
Who will be worse for the 99%?
Romney, with or without control of Congress?
Obama, with or without control of Congress?
Will Dems in the Senate stand against either president’s moves to further distribute wealth upwards?
We are so screwed.
Where is the point when there is no “wealth” to distribute upwards? When the 1% have to eat their own perhaps.
Excellent point. When the filty rich and filthier rich have looted the entire country and there is no more middle class to rape and pillage, they’ll find themselves in quite a pickle.
Funny…..I’d like to see that. Odd as that sounds.
I hope they eat Trump first.
The “rich” are financing the country and somehow that still isn’t enough for you leaches? Pick up a shovel and stop expecting someone else to do all the work for you.
WOW!
Who’d a thunk there were a bunch of fans of “The Donald” here at FDL???
I would argue that we’ve already reached, and passed, that point. They just pushed paying the Piper far into the future. Our great- grandchildren will still be paying for Iraq.
Spelling FAIL at #17. Apparently a product of the cut rate American education system.
…X 2
Are you on something??? With out us, we would not even be having this conversation about the “rich” because slavery has been abolished and the “rich” cannot be rich with out people like me. I don’t know why I am even responding to you. Do you have nothing to do or are you just a spiteful person who wants to harass people because your bored. Give us a break huh!
Hey, metro, just for laughs, read through CAD-reaming’s comment history……..negative, insulting, purposeless. I’m guessing this fool is getting paid by someone to come in and dump garbage on threads.