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12-06-2010, 07:53 PM #1
Obama, Rep. reach deal to extend tax cuts, unemployment
http://www.washingtonpost.com/wp-dyn/co ... 05923.html
President Obama and congressional Republicans have agreed to a tentative deal that would extend for two years all the tax breaks set to expire on Dec. 31, continue unemployment benefits for an additional 13 months and cut payroll taxes for workers to encourage employers to start hiring.
The deal has been in the works for more than a week and represents a concession by Obama to political reality: Democrats don't have the votes in Congress to extend only the expiring tax breaks that benefit the middle class. The White House estimates that the proposed agreement would prevent typical families from facing annual tax increases of about $3,000, starting Jan. 1.
Obama was able to extract an agreement from GOP leaders to support an additional 13 months of jobless benefits, a 2 percent employee payroll tax cut and extensions of several tax credits aimed at working families that were included in the stimulus bill...
Reporting without fear or favor-American Rattlesnake
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12-06-2010, 08:04 PM #2
Tax-cut deal reached between Obama, Republicans
Tax-cut deal reached between Obama, Republicans
Gallery
U.S. tax policy's future: Key players in the showdown
These leaders have important roles in the debate over whether to remake the federal tax code.
By Shailagh Murray
Washington Post Staff Writer
Monday, December 6, 2010; 7:02 PM
President Obama and congressional Republicans agreed Monday to a tentative deal that would extend for two years all the Bush-era income tax breaks set to expire on Dec. 31, continue unemployment benefits for an additional 13 months and cut payroll taxes for workers to encourage employers to start hiring.
The deal has been in the works for more than a week and represents a concession by Obama to political reality: Democrats don't have the votes in Congress to extend only the expiring income tax breaks that benefit the middle class. The White House estimates that the proposed agreement would prevent typical families from facing annual tax increases of about $3,000, starting Jan. 1.
Obama was able to extract an agreement from GOP leaders to support an additional 13 months of jobless benefits, a 2 percent employee payroll tax cut and extensions of several tax credits aimed at working families that were included in the stimulus bill.
The deal also would revive the estate tax, but it would exempt inheritances of up to $5 million for individuals and $10 million for couples. Democrats on Capitol Hill are strongly opposed to setting the cap at that high a level and to the 35 percent rate discussed by Obama and Republicans that would apply to the taxable portion of estates.
In brief remarks Monday evening, Obama said he was disappointed that the deal would extend breaks for the wealthiest households, but he warned Democrats not to make good on threats to allow all the cuts to expire, as an expression of the party's opposition to preserving the top-rate cuts. "Sympathetic as I am to those who would prefer a fight to compromise ⦠it would be the wrong thing to do," the president said. "The American people didn't send us here to wage symbolic battles."
The White House is preparing for significant opposition from Democrats and will send Vice President Biden to meet with Senate Democrats on Tuesday. Later on Tuesday, House Democrats are scheduled to discuss the proposed deal.
http://www.washingtonpost.com/wp-dyn/co ... 05923.htmlJoin our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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12-06-2010, 08:08 PM #3
RINO'S held his feet to the fire!!!!
You cannot dedicate yourself to America unless you become in every
respect and with every purpose of your will thoroughly Americans. You
cannot become thoroughly Americans if you think of yourselves in groups. President Woodrow Wilson
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12-06-2010, 08:20 PM #4Originally Posted by TakingBackSoCal
By the way REID has still not filed cloture on the Dream Act.
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12-06-2010, 08:24 PM #5
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Just reported on Fox news that this is far from a done deal
The rank and file dems are livid
They feel they have been sold out , I see piglosi totally
recommending a no vote on this deal
This also has to go through both the house and the senate for approval
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12-06-2010, 08:32 PM #6Originally Posted by Justthefacts
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12-06-2010, 09:10 PM #7
I believe extending welfare bennies is keeping illegals in jobs.
These jobs should be for CITIZENS first.You cannot dedicate yourself to America unless you become in every
respect and with every purpose of your will thoroughly Americans. You
cannot become thoroughly Americans if you think of yourselves in groups. President Woodrow Wilson
GALLUP POLL: Immigration the most pressing issue in America for...
05-03-2024, 11:30 PM in General Discussion