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Bush-era Tax Cuts Pass in Congress, Now Become Law for 2012

Thursday, December 16, 2010

Congress has just passed the Bush-Era tax cuts that will extend unemployment benefits to the unemployed, along with preventing President Obama from raising the taxes of the rich. Early in the week on Wednesday, the Senate cleared the bill with an 81-19 vote on Wednesday, and tonight the House passed the measure. 
The big holdup in the House were liberals that were strongly opposed to what they argue is a deficit-exploding giveaway to the rich in the form of a lower estate tax. 
As expected liberal Democrats are extremely disappointed with the President as he supported the measure and sided with the Republicans. 
In a tally, it is affirmed that November and December belong to the Republicans as far as getting their way. But it is very evident that the liberal Congressmen 'railroaded' the President in agreeing with them. For Obama, it wasn't about the Democrats verses the Republicans here, or liberal ideas opposed to conservative ideas, it was about the unemployed; it was about the only viable way to keep unemployment benefits in the hands of the unemployed in 2012. 
The Republicans have successfully showed their cards in a hand that they have displayed to everyone as to what to expect in 2012. But I would guess that President Obama will now be very critical in his support for future bills, and will exercise his 'veto vote' on a regular bases when the Republican House takes control in January. They will decide which bills they want to vote on, and will especially pick bills that the President will have to concede to, but they most likely will find out that he will not concede.

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