Tax and Appropriations
In case you missed it in the hustle and bustle last week, Politico goes inside the House GOP Caucus and finds a number of Republican members who are finally ready to admit that revenues are necessary if we’re going to seriously address the deficit, and are rejecting Grover Norquist’s tax pledge.
From the Politico article:
“Grover’s grip may be loosening.”
“I opposed this appropriations bill for several reasons, chief among them that it is not consistent with the bipartisan agreement reached in August on spending levels. Breaking that agreement is just one more sign that this House Republican conference is simply unwilling to compromise or work with Democrats to find solutions to our challenges.
The recaps are in from yesterday’s mark-up of House Republicans’ reconciliation bill, and it certainly isn’t pretty. We’ve picked a few of our favorites that demonstrate the awfulness of the Republican bill. Enjoy:
From the Democratic Whip Press Shop:
In their headlong charge to protect tax cuts for the wealthy at all costs, Senate Republicans voted today to block consideration of a measure to keep student loan rates from doubling on July 1. This comes on the heels of House Republicans rejecting any attempts at a bipartisan compromise on the student loan issue. And guess what? The American people don’t like that too much.
Need more proof House Republicans were never actually serious about reducing the deficit? The Hill reports today that Republicans have no plans to pay for an extension of the Bush tax cuts:
We’ve got a number of questions on the “election-year giveaway” (according to Bruce Bartlett) Republicans brought to the House Floor today. While it’s entertaining watching Republicans contort themselves to make this look like it’s about small businesses, the numbers make it pretty clear that it’s about relief for the wealthiest while everyone else bears the cost. Here are some questions for Republicans that continue to leave us scratching our heads:
Taxes are never popular, especially in April of an election year. But the Republicans’ latest effort to tilt the tax code in favor of the wealthy, and starve the government of needed revenue, is particularly cynical.
This week, the House Ways and Means Committee reported H.R. 9, the Small Business Tax Cut Act, which would give every business in the United States with fewer than 500 employees a deduction equal to 20 percent of its gross receipts.
Yesterday, Republicans unveiled a more-of-the-same budget for fiscal year 2013 that ends the Medicare guarantee while protecting tax cuts for the wealthy, and puts our economic recovery at risk. The Republican budget makes the wrong choices and places the burden of deficit reduction onto seniors, the middle class, working families, and the most vulnerable by refusing to ask the wealthiest among us to contribute. Budget Committee Chairman Paul Ryan called on the American people to make a choice between two futuresfor our nation. Here’s a look at our future under the Republican budget – and the future Democrats envision instead.
Sustaining our economic recovery depends on American businesses, especially manufacturers, remaining globally competitive and able to continue investing in innovation and job growth. The President's proposal would lower the business tax rate by broadening the base through elimination of those loopholes that distort business decision making. It also goes hand in hand with House Democrats' Make It In America comprehensive jobs plan by providing incentives for manufacturing and research that will help us retain our role as the world's innovation leader. When we help manufacturers make their products here in America, it in turn helps create opportunities for more of our people to Make It In America.