Politics

Reid: Obama’s tax rate extension deal needs more work if he wants Democratic support in Senate

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Chris Moody
Contributor

Senate Democrats will not accept President Obama’s negotiated deal with Republicans to extend the Bush-era tax rates in its current form, Majority Leader Sen. Harry Reid said Tuesday.

“The concerns are wide ranging, some dealing with matters other than taxes, frankly. But we weren’t able to work our way all through this today,” Reid told reporters after Vice President Joseph Biden visited the U.S. Capitol to pitch the president’s plan during a closed door meeting with Democrats. “We’re going to have to do some more work on it.”

The deal, which top Republicans have praised as a bipartisan effort to tackle a wide range of problems and Democrats have blasted as a devastating sign of capitulation, in part will extend the Bush-era tax rates for all for two years, fund unemployment benefits for 13 months and raise the estate tax to 35 percent for assets above $5 million.

After what Reid called a “healthy discussion” with the vice president, Reid said the White House still lacks support on Capitol Hill and made it clear that Obama’s deal was “only a framework.”

“While this is not an arrangement many in the caucus would have made, we understand the president is negotiating with congressional Republicans who are willing to risk everything in order to secure tax cuts for the wealthiest of all Americans,” Reid said.

Reid said that Democrats will hold caucus meetings throughout the week “to hash it out.”

As to how Reid felt personally about the deal, the senator from Nevada declined to say, in “fear it would interfere with some of my caucus doing what they feel is appropriate.” He did, however, relay his dissatisfaction with the estate tax portion of the plan, saying he was “not a big fan of what has been negotiated.”

A number of Democrats, including Sen. Frank Lautenberg of New Jersey and Minnesota Sen. Al Franken, left the meeting saying they were still unsatisfied with the president’s proposal.

Laura Donovan contributed to this report.

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  • Tess_Comments

    I say:
    Yes,extend the Bush-era tax rates for all for two years.
    No, do not fund unemployment benefits for an extra 13 months, this will turn it into WELFARE. A total of 50 weeks for unemployment benefits should be sufficient.
    NO, do not raise the estate tax to 35 percent for assets above $5 million. No tax increases for ANYONE at this time.

  • bigdave

    ALL POLITICIANS SHOULD BE REMOVED. A GREAT START IN SAVING MONEY!!! WE THE PEOPLE CAN “HIRE” A FEW GOOD PEOPLE, WHO UNLIKE OBAMA, HAVE A SUCCESSFUL TRACK RECORD IN “BUSINESS”!!! YOU KNOW, THAT “THING” THAT PROVIDES ALL THE JOBS AND PAYS ALL THE BILLS!!! AND, CUT THE FEDERAL AND STATE EMPLOYMENT BY 75% AND THE SALARY OF THE REMAINING BY 40%!! THEY ARE ALL PARASITES LIVING OFF OF US!! THEY PRODUCE “NOTHING”!! ALL OUR TAXES AND FEES GO TO PAY THESE MORONS FOR NON-PRODUCTION!!! THE TIME FOR BEING HARRASSED, PLUNDERED AND LIED TO, WITH GAS PRICES GOING THROUGH THE ROOF UNNECESSARILY(JUST BECAUSE SOME IDIOT WANTS IT?!) AND NOT BEING ABLE TO AFFORD ANYTHING ANYMORE, THE TIME FOR IT TO END IS “NOW”!! AND THROW THE A..HOLE GREENLEE OUT! SUBSIDIZED ETHANOL IS A DISASTER AND ADDED TO GAS WILL DESTROY YOUR MILEAGE BY 25% OR MORE!!!! WE CAN NOT LET THESE LUNATICS RULE OVER US ANY LONGER!!!

  • bigdave

    DemocRATS are the PLUNDERERS OF THE PRODUCTIVE. They STEAL your money by FIAT so they can pump their weak chests,stuff their own coffers and attract indigent voters to keep them doing the same thing forever…no wonder they become millionaires after a few years of “service”(?!). Most democRATS have NEVER held a job in the private sector, yet they HATE CORPORATIONS AND BUSINESSES THAT DO WELL(make money!)and their itsybitsy minds decide “they” want the “profits” of those businesses…all the profits, not just the taxes produced. Hence the MORON CLINTON’S continuous rant about “BIG OIL, BIG COMPUTER, BIG PHARMACEUTICAL, etc” proclaiming THEY ARE THE REAL ENEMIES and the purveyors of kiddie porn in Hollywood decided to follow suit and all of a sudden the REAL TERRORISTS(since we can’t refer to the real ones, the MUSLIMS!)IN THIS COUNTRY ARE CORPORATIONS!!! AND NOW THEY ARE GONE AND THE JOBS WITH THEM EFFECTING EVERY SINGLE SEGMENT OF OUR SOCIETY FROM ARCHITECTS/DESIGNERS TO BUILDERS TO LEASING COMPANIES AND AGENTS TO FURNITURE COMPANIES AND SALES PEOPLE AND MANUFACTURING TO PAID EMPLOYEES WHO BUY HOUSES AND CARS AND FOOD AND CLOTHING AND WHO DRIVE THEIR CARS ARTOUND THE COUNTRY SUPPORTING SMALL BUSINESSES AND CAFES…ALL OF WHICH ARE NOW DYING BECAUSE OF democRATS!!!!!

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