Dems, GOP Edge Closer To Tax Cut Deal

A tax cut deal between Democrats and Republicans is growing closer after two potential bills were shot down in the Senate over the weekend. 

A bill introduced by Sen. Max Baucus (D-Mont.) that would have extended tax cuts for the middle class and unemployment benefits did not get passed the Senate Saturday. A second bill introduced by Sen. Charles Schumer (D-N.Y.) that would have extended tax cuts for those with incomes of $1 million or less was also shut down.

Moving forward, however, it seems as though a deal that would take unemployment benefits coupled with the extension of all tax cuts for two years will hit the floor of the upper chamber before the end of Congress’ lame duck session. 

After GOP senators vowed to filibuster legislation still lingering in political limbo- including the DREAM Act, the repeal of Don’t Ask, Don’t Tell and the ratification of START- Democrats will have a hard pill to swallow if they want to tackle more tabled items before they leave for the holidays. 

On Sunday’s “Face the Nation” on CBS, Senate Majority Whip Dick Durbin (D-Ill.) said, “We’re only moving there against my judgment and my own particular view of things.”