The Senate may have punted on the expiring tax cuts, but House leaders say they might take a vote on the volatile issue before that body breaks for the Nov. 2 elections.
House Speaker Nancy Pelosi (D-Calif.) said yesterday that a House vote on what to do about the Bush-era tax cuts could come as soon as next week.
That would force Minority Leader John Boehner (R-Ohio) to put up or shut up about voting for a bill that extends only middle-class cuts if that was all that was offered on the House floor.
But it also would highlight the Democrats who have come out in support of all the 2001 and 2003 tax laws, even those that benefit higher wage earners.
Is there a possible middle ground? Maybe.
Last week, House Majority Leader Steny Hoyer (D-Md.) indicated he was willing to negotiate with Republicans and Democrats who want all tax cuts extended.
If that happens and the House does agree to a tax cut measure, it could make it easier for the Senate to take up the measure when it returns in November.
And that could mean we wouldn't have to worry about higher payroll withholding taxes.
Yeah, I know. I'm not holding my breath either.
Related
posts:
- Tax cuts on hold until November
- Tax cut timing could be costly
- Democrats who support Bush tax cuts
- Representing the rich … or not
- Some quick tax cut calculations
- OMG! What will happen to my tax bill if the
Bush tax cuts expire!?! - Tax cuts smackdown!
- 2010's expiring tax cuts likely to be dealt with by a lameduck
Congress - Debunking 5 Bush tax cut myths
- Your 2011 tax burden revised
- Yet another tax what-if calculator
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