Post by Adriana Velez
You guys, I've been dying to write "fiscal cliff" for the last time ever but I'm afraid the fight goes on. But there is an end in sight! This afternoon President Obama gave us an update on how these negotiations are going. Short story: There will be no grand bargain today, but a deal is in the works that will extend middle-class tax cuts and unemployment benefits. It will raise taxes for households earning over $450,000 a year and raise estate taxes to 40 percent, generating an estimated $600 billion in revenue. As for the rest of the fiscal pie, that's a $24 billion fight for another day. Part of the agreement is a delay in planned, across-the-board cuts to programs until the whole enchilada is baked. Vice President Biden has been in talks with Senate minority leader Mitch McConnell. The Senate may vote on the deal this afternoon. We're almost there. So what's keeping us from passing the no-brainer portion of the budget?![]()
You guys, I've been dying to write "fiscal cliff" for the last time ever but I'm afraid the fight goes on. But there is an end in sight! This afternoon President Obama gave us an update on how these negotiations are going. Short story: There will be no grand bargain today, but a deal is in the works that will extend middle-class tax cuts and unemployment benefits. It will raise taxes for households earning over $450,000 a year and raise estate taxes to 40 percent, generating an estimated $600 billion in revenue. As for the rest of the fiscal pie, that's a $24 billion fight for another day. Part of the agreement is a delay in planned, across-the-board cuts to programs until the whole enchilada is baked. Vice President Biden has been in talks with Senate minority leader Mitch McConnell. The Senate may vote on the deal this afternoon. We're almost there. So what's keeping us from passing the no-brainer portion of the budget?