House Democratic Caucus Rejects President Obama/GOP Tax Compromise

Note: here is what Speaker Pelosi said after the House Democratic Caucus meeting:

“House Democrats share the President’s commitment to providing the middle class with a tax cut to grow the economy and create jobs. The House passed a bill last week to provide tax cuts for all Americans but not a bonus tax cut to millionaires and billionaires. The extra tax cut for the top 3 percent does not create jobs and increases the deficit. Unfortunately, Senate Republicans blocked the bill from being approved by the Senate.

“In the Caucus today, House Democrats supported a resolution to reject the Senate Republican tax provisions as currently written. We will continue discussions with the President and our Democratic and Republican colleagues in the days ahead to improve the proposal before it comes to the House floor for a vote. Democratic priorities remain clear: to provide a tax cut for working families, to create jobs and economic growth, to assist millions of our fellow Americans who have lost their jobs through no fault of their own, and to do this in a fiscally sound way.”

… and here is another take on the issue by Virginia’s 3rd District Congressman, Bobby Scott from The Hill ..
We can’t afford the extension of any tax cuts (Rep. Robert C. Scott) – The Hill’s Congress Blog

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