Thursday, July 26, 2012

Senate ready for symbolic showdown on tax cuts

AAA??Jul. 25, 2012?10:47 AM ET
Senate ready for symbolic showdown on tax cuts
By ALAN FRAMBy ALAN FRAM, Associated Press?THE ASSOCIATED PRESS STATEMENT OF NEWS VALUES AND PRINCIPLES?

In this July 24, 2012, photo, Senate Minority Leader Mitch McConnell of Ky., gestures during a news conference on Capitol Hill in Washington, following a political strategy session, as from back left, Sen. John Barrasso, R-Wyo., Sen. John Cornyn, R-Texas, and Senate Minority Whip Jon Kyl of Ariz., listen. The Senate is bracing for a tax-cut showdown that is all about Democrats and Republicans showing voters their differences over taxing the well-off while accusing each other of threatening to shove the government over a fiscal cliff. Senators planned to vote Wednesday, July 25 on a $250 billion Democratic bill that would extend expiring tax cuts next year for all but the highest earners. Republicans were forcing Reid to corral 60 votes for the proposal, which he does not have. (AP Photo/J. Scott Applewhite)

In this July 24, 2012, photo, Senate Minority Leader Mitch McConnell of Ky., gestures during a news conference on Capitol Hill in Washington, following a political strategy session, as from back left, Sen. John Barrasso, R-Wyo., Sen. John Cornyn, R-Texas, and Senate Minority Whip Jon Kyl of Ariz., listen. The Senate is bracing for a tax-cut showdown that is all about Democrats and Republicans showing voters their differences over taxing the well-off while accusing each other of threatening to shove the government over a fiscal cliff. Senators planned to vote Wednesday, July 25 on a $250 billion Democratic bill that would extend expiring tax cuts next year for all but the highest earners. Republicans were forcing Reid to corral 60 votes for the proposal, which he does not have. (AP Photo/J. Scott Applewhite)

In this July 24, 2012, photo, House Speaker John Boehner, R-Ohio, talks to reporters following a closed-door political strategy session at the Capitol in Washington. The Senate is bracing for a tax-cut showdown that is all about Democrats and Republicans showing voters their differences over taxing the well-off while accusing each other of threatening to shove the government over a fiscal cliff. Senators planned to vote Wednesday, July 25 on a $250 billion Democratic bill that would extend expiring tax cuts next year for all but the highest earners. Republicans were forcing Senate Majority Leader Harry Reid, D-Nev., to corral 60 votes for the proposal, which he does not have. Boehner was ready to push legislation through his chamber next week that closely mirrors the Senate GOP measure. (AP Photo/J. Scott Applewhite)

(AP) ? Senate leaders have reversed course and decided to stage showdown votes on rival Democratic and Republican plans for extending broad tax cuts next year that will otherwise expire in January.

The Senate planned to hold back to back roll calls later Wednesday, with each bill requiring just a simple majority for passage. Until now, the Senate had planned to vote only on the Democratic bill under rules requiring 60 votes for it to prevail ? a number Democrats would not be able to reach.

There are 51 Democrats and two independents who usually support them. A defeat of the Democratic bill would be an embarrassment to party leaders.

There are 47 Republicans in the Senate, and their measure seems certain to fail.

Associated PressNews Topics: Business, General news, Government and politics, National taxes, Legislature, Bills, Government taxation and revenue, Government finance, Government business and finance, National governments, Legislation

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-07-25-Congress-Taxes/id-34c7f191863b4e82a14724c80b7c27a8

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