Republicans Win Fight To Keep Tax Cuts For The Rich
Democrats couldn’t muster enough votes to avoid a Senate filibuster that would have reverted tax rates for the wealthiest Americans to pre-Bush-43 levels.
The Senate took the two votes on bills that would have permitted tax cuts to remain in effect at most incomes.
A proposal to let tax rates rise on Jan. 1 on incomes over $200,000 for individuals and $250,000 for couples fell on a vote of 53-36, seven short of the 60 needed to advance.
An alternative advanced by Schumer and others – but opposed by the White House – would have let rates rise on incomes over $1 million. The vote was 53-37, also seven short of the 60 needed.
Schumer supplied the political context. “I’m going to be here for the next year, next two years, to remind my colleagues that they were willing to increase the deficit $300 billion to give tax breaks to people who have income over a million dollars,” he said in a reference to the 2012 elections.Click here for reuse options!
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