Senate Minority Whip Jon Kyl (R-Ariz.) said Sunday that he expected the “recipe” for a tax-cut compromise to included extensions of unemployment benefits and Bush-era tax rates for all income brackets.
Appearing on CBS’s “Face the Nation” with his Democratic counterpart Dick Durbin (D-Ill.), Kyl accused leaders of “wasting a week” of going through political maneuvers such as the Saturday session called by Majority Leader Harry Reid (D-Nev.).
A proposal by Finance Committee Chairman Max Baucus (D-Mont.) to extend the cuts only for individuals with incomes of up to $200,000 and families with incomes of up to $250,000 failed by a vote of 53-36. A proposal by Sen. Charles Schumer (D-N.Y.) to extended the permanently for incomes of up to $1 million failed 53-37.
Schumer’s bill included provisions such as a one-year extension of unemployment benefits and cuts in capital gains, estate and dividend taxes.
“I can tell you, without unemployment benefits being extended, personally, this is a non starter,” Durbin said, calling it “unconscionable” that some families would see their checks run out before Christmas.
Despite outstanding disagreements over which income brackets should get extensions and for how long, “In theory, I think an agreement could be reached in the near future,” Kyl said.
Full story: Kyl: ‘Recipe’ for tax deal likely to include unemployment benefits – The Hill’s Blog Briefing Room