–House Majority Leader: Vote Should Not ‘Undermine’ Tax Negotiations
–Expects House to Pass Another Stop-Gap Spending Bill Until Dec. 18
–Deficit Panel Report Will Advance Fiscal Debate
By John Shaw
WASHINGTON (MNI) – House Majority Leader Steny Hoyer said Wednesday
the House will vote Thursday on a tax cut package that includes
extending the Bush era tax cuts for the middle class.
At a briefing, Hoyer said that he believes it is important for the
House to vote on a plan that extends the Bush tax cuts for individuals
making up to $200,000 and couples earning up to $250,000 and includes
alternative-minimum tax relief and other items.
But Hoyer said this vote “should not undermine” the negotiations
that have just begun between Treasury Secretary Tim Geithner, White
House budget director Jack Lew and four congressional negotiators.
Hoyer said the House vote is not designed to put Republicans in a
“difficult place” but to express the views of the Democratic majority
that controls the House for the rest of this year.
He said the 2010 sunset date that was inserted in the Bush era tax
cuts was a way of “hiding the cost” of the tax cuts.
The House vote on middle class tax cuts is not likely to be
received positively by congressional Republican leaders who have said
they hope the tax cuts talks can yield an agreement.
Hoyer said the House will also vote this week on a stop-gap
spending bill that funds the federal government until Dec. 18 as work
continues on a longer-term spending bill.
The current stop-gap bill expires Friday and is funding the federal
government. None of the 12 regular spending bills for the 2011 fiscal
year have been passed by Congress. The 2011 fiscal year began on Oct. 1.
Finally, Hoyer praised the report of the deficit reduction panel
chaired by Erskine Bowles and Alan Simpson, saying it makes a “very
useful contribution” to the budget debate.
** Market News International Washington Bureau: (202) 371-2121 **
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