July 24, 2010
A small but growing chorus of Capitol Hill Democrats say they support delaying a scheduled expiration of Bush-era tax cuts on wealthier Americans, bucking the Obama administration’s desire to shield only middle-income earners from a tax increase.
But unlike Republicans, influential Democrats – including Sens. Kent Conrad, Ben Nelson and Evan Bayh – want the tax cuts on higher earners to be ended after the economy stabilizes.
Both parties are jockeying for the pole position in what is shaping up to be a nasty political fight heading into the November midterm elections. Democrats don’t want to be portrayed as tax raisers during hard economic times. Republicans must jibe their renewed opposition to deficit spending with the massive price of keeping the tax cuts on the books.
This article was posted: Saturday, July 24, 2010 at 5:39 am