House Republicans will pass a tax bill tomorrow...

[itshappening]

He must be confident he has the votes for this but we'll see.

-

http://www.youtube.com/watch?v=jdb-gVwefH4

[matt0611]

It sounds like its a bill making tax cuts for those in the middle class permanent and leaving the others alone for now?

Or am I misunderstanding it?

[itshappening]

All tax rates on those earning under $1m to stay the same is what he is saying will be passed.

Those earning over $1m will face a hike from 35% to 39.6%.

[Zippyjuan]

Only not extending the tax cuts on incomes over $1 million- otherwise correct so basically keeping nearly all of the Bush tax cuts and making them permenant.
http://www.reuters.com/article/2012/12/19/us-usa-fiscal-cantor-idUSBRE8BI00620121219

U.S. House of Representatives Majority Leader Eric Cantor said he expects a vote on a Republican offer to avert the "fiscal cliff" on Thursday, and he expects to have enough votes to pass the measure.

Cantor spoke on Tuesday, a day after top Republicans rejected the latest White House offer to avert some $600 billion in tax hikes and spending cuts looming at year's end, known as the fiscal cliff.

Instead, Republicans plan a vote on a bill to raise taxes on income above $1 million while extending low rates for other taxpayers.

(Reporting by Kim Dixon; Editing by Eric Walsh)


It really doesn't do anything to reduce the deficit. If you made $1.1 million, the new taxes would apply to $0.1 million of that. It would be raising some taxes so curious how the No Tax Pledge signers will vote on the bill. Perhaps this is a test of if they would be willing to go along with some new taxes to get a deal done.

[itshappening]

I really do wonder if they have the votes. The hardcore will not vote for it, they have to limit the number of defections.

Maybe he has threatened anyone who votes against it.

10 GOPers voted against the Ryan budget..

This might be close.

[Feeding the Abscess]

Ron will likely vote for this, as voting against it is voting for a tax increase for everybody. He did something similar in 2010.

[Brett85]

I don't know how I would vote on this if I were a member of Congress. It seems like I would be voting for a tax increase either way.

[supermario21]

Paul Ryan, tax raiser. Rand is going to have such a great time in a primary.

[Feeding the Abscess]

I don't know how I would vote on this if I were a member of Congress. It seems like I would be voting for a tax increase either way.

If you're in leadership and you bring this bill forward, I can see that argument pretty easily. Regular house members, though, can only vote on what's offered. Voting against this bill would be voting for a tax increase.

[gerryb1]

Perhaps this is a test of if they would be willing to go along with some new taxes to get a deal done.

It's a catch 22.. With no new law they are increasing taxes on everyone... With a new law they are lowering taxes for almost everyone and increasing them for some..

[Austrian Econ Disciple]

I'd vote present and make it known that the bill is a lose-lose proposition and why it is unfit to exist.

[torchbearer]

Only not extending the tax cuts on incomes over $1 million- otherwise correct so basically keeping nearly all of the Bush tax cuts and making them permenant.
http://www.reuters.com/article/2012/12/19/us-usa-fiscal-cantor-idUSBRE8BI00620121219


It really doesn't do anything to reduce the deficit. If you made $1.1 million, the new taxes would apply to $0.1 million of that. It would be raising some taxes so curious how the No Tax Pledge signers will vote on the bill. Perhaps this is a test of if they would be willing to go along with some new taxes to get a deal done. How much new spending is Obama wanting? This isn't about deficit reduction.

[Jingles]

No surprises at all here.

[sailingaway]

I really do wonder if they have the votes. The hardcore will not vote for it, they have to limit the number of defections.

Maybe he has threatened anyone who votes against it.

10 GOPers voted against the Ryan budget..

This might be close.

If it has no tricks and really keeps taxes from going up on a large portion who otherwise automatically will have them raise, Ron might vote for it. Dems plan to vote against it, generally, to get MORE taxes. He's pretty hard core, but he will look at what is actually in it. People are framing voting for it as caving which might not be the way to look at it, once you read it. Remember, the taxes go up if NOTHING passes.

[Zippyjuan]

Boehner admits he lacks the votes to get his plan passed. No vote.

[itshappening]

I knew he was bluffing.

He's got to go now.

[Zippyjuan]

Starting to think it was deliberate- especially since the vote was never actually held (a vote could have revealed who is willing to support a compromise deal). He is trying to show Obama that there is no way he is going to be able to get any tax increases through the House to try to boost his own side in the negotiations.