House Passes Temporary Extension Of Bush-Era Tax Cuts, 277-148

pelosi01Editor’s Note – So it is done.  Many conservatives do not support this initiative and I count myself among them.  Not sure why the Republicans didn’t just let the Bush tax cuts expire and have this be the first order of business for the 112th Congress, when they control the House.  Certainly, a better deal could be struck.

The only encouraging sign is this; Nancy Pelosi said, “is not good policy. It does have not have a favorable impact on the deficit. It does not create jobs, It does not grow the economy.”

Under her leadership the national debt increased significantly, unemployment went up substantially and the economy has been completely stagnant, so it’s clear she has no idea what she’s talking about – which means that this plan just may work!

And, considering that this lame duck Congress is working nights and weekends, this action was taken last night just before midnight, and plans to work through the scheduled breaks to pass as much liberal policy as possible before getting thrown out the door, I submit that what we are witnessing in Washington, D.C. is a short lived coup d’ etat, but that’s a whole other story!

 

House Passes Temporary Extension Of Bush-Era Tax Cuts, 277-148

By Russell Berman and Mike Lillis
TheHill.com

The House late Thursday gave final approval to a temporary extension of the George W. Bush-era tax rates, delivering a significant but politically bruising victory to President Obama.

The $858 billion legislation now heads to the president’s desk for his signature. It extends the Bush tax cuts across the board for two years, slashes the employee payroll tax by 2 percent for one year, renews the estate tax and extends unemployment insurance benefits for 13 months.

In all, 112 Democrats and 36 Republicans voted against the deal, including conservative stalwarts Mike Pence (R-Ind.), Michele Bachmann (R-Minn.), Steve King (R-Iowa) and Jim Jordan (R-Ohio).

Citing jobless benefits not paid for and an extension of the tax cuts set to expire in two years, during the next political season, those members felt they could get a better deal out of President Obama after they take power in little under three weeks.

Read More – http://thehill.com/homenews/house/134161-house-passes-temporary-extension-of-bush-era-tax-cuts

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