The Senate has voted down two Bills today. (Saturday) The first bill was to limit the tax cuts to those making over $250,000.00 per year a pledge that President Obama made while campaigning. This would have preserved the tax cuts for most middleclass Americans but remove the tax cuts on the wealthiest 1% tax payers.
The second Bill was to remove tax cuts on anyone making over $1,000,000.00. This Bill is to prove that the Republicans are intent preserving the millionaires interests and willing to sacrifice the middle class.
Both Bills failed and it may because the Administration has agreed to allow the tax breaks to continue for several years in exchange for extended Unemployment Insurance benefits.
This looks like blackmail to me and I’m saddened that our Government has to resort to this type of agreement when it is so morally wrong.
For the entire article please go to http://tpmdc.talkingpointsmemo.com/2010/12/senate-republicans-block-middle-class-tax-cut.php?ref=dcblt
