A Way Out of the ‘Fiscal Cliff’ Impasse?
Today, however, it looks as if top GOP aides have hit on a possible way out — a way Republicans can allow an extension of the middle class tax cuts while simultaneously opposing it. They tell the Post’s Lori Montgomery:
The Republican-controlled House could adopt two competing bills. One, supported primarily by Republicans, would extend the expiring low tax rates for all households, including the rich. The second, supported primarily by Democrats, would extend the current low rates only on income less than $250,000 a year, allowing rates for the wealthy to increase. Both measures would go to the Democratic-controlled Senate, which would then pass only the Democratic bill.
So Republicans get to go on record supporting tax cuts for the rich — sorry, tax cuts for everyone. Then they get to vote against extending just the middle class tax cuts, but that passes anyway, thanks to House Dems. The second measure passes the Senate. The middle class keeps its taxes low; the taxes on the rich expire with Republicans on record against it; the GOP regroups to fight again next year. Problem solved, right?
Very refreshing to read a piece more focused on reality than rhetoric. Hard to find out what’s actually happening amid all the static.