From John (from congress.gov)
House and Senate Leadership, respectively:
The Senate Vote: Yea = 89, Nay = 8, not voting = 3
Those who voted Nay (and are posturing to suit their own political needs):
Marco Rubio ® Florida, presidential candidate in 2016
Rand Paul ® Kentucky, ardent small-government Republican
Mike Lee ® Utah, ardent small-government Republican
Chuck Grassley ® Iowa, helped secure passage of the Bush-era tax cuts, then opposed making almost all of them permanent
Richard Shelby ® Alabama, the agreement “falls far short of the measures necessary to promote job creation, economic growth, and fiscal stability.”
Tom Carper (D) Delaware, a moderate
Michael Bennet (D) Colorado, a moderate
Tom Harkin (D) thought Obama had given away too much
Senators not voting: Kirk (R-IL), Lautenberg (D-NJ), and DeMint (R-SC)
House Speaker, John Boehner, said the House would “honor its commitment to consider the Senate agreement.” But, they added, “decisions about whether the House will seek to accept or promptly amend the measure will not be made until House members – and the American people – have been able to review the legislation.” A vote Tuesday is possible. The House will reconvene at noon.
The agreement:
• tax rates would jump to 39.6 percent from 35 percent for individual incomes over $400,000 and couples over $450,000;
• tax deductions and credits would start being capped on incomes above $250,000, (so taxpayers with incomes between $250,000 and $400,000 will see tax increases);
• a full year’s extension of unemployment insurance without strings attached and without offsetting spending cuts, a $30 billion cost;
• the two-percentage point cut to the payroll tax that the president secured in late 2010 lapsed at midnight and will not be renewed;
• put off $110 billion in across-the-board cuts to military and domestic programs for two months while broader deficit reduction talks continue; those cuts begin to go into force on Wednesday, and that deadline, might be missed before Congress approves the legislation; and
• a 9-month farm bill extension that will prevent an increase in milk prices.
I’m satisfied with the Senate bill. However, if I understand correctly, without resolution of the debt ceiling, we will face more intransigent confrontation by the republicans in just a few weeks. Not sure how that will bode for the country. Hope the Democrats don’t sell us down the river.
Don’t worry about the Dems. They come in two flavors. 1) Those bought and paid for by corporate/Wall Street interests and 2) those who will follow Obama’s lead. Progressives? Rare as hen’s teeth.
It is Obama who needs to step up and stop backing down. If he does, we have hope. If not, we will have four more dismal years.