Jolt
Afternoon Jolt: Murray and Cantwell Vote for Obama Tax Compromise
Both Murray and Cantwell go with Obama's deal. But only Murray admits it.
In an 83-15 vote this afternoon, both Sens. Patty Murray and Maria Cantwell voted for cloture on President Obama's tax package compromise with the Republicans, moving the bill—which includes the controversial extension of tax breaks for people making over $250,000 a year— forward to sure passage on the senate floor. The bill also extends exemptions on the estate tax—providing exemptions up to $5 million per individual, after which the tax will be levied at a rate of 35 percent. (The tax used to kick in at $1 million at 55 percent.)
The bill includes lots of breaks for Joe and Jane Six Pack, such as extending unemployment insurance (Obama's get for giving in on tax breaks for the rich), the earned income tax credit, a higher-ed tax credit, and for Joe and Jane Six Pack of Washington in particular, sales tax deductibility.
Here's a summary of all the breaks.
While Washington State Democrats are likely peeved at their senators, Afternoon Jolt is going to give some points to Sen. Murray; at least in contrast to Cantwell. It's not that Cantwell, who's been playing the part of Woody Guthrie these days , failed to win the stimulus-style amendments to Obama's deal that she called for last week. (Hell, she gets props for all that.) It's that, in the end, Murray was grown-up enough to address the problems with the bill head on.
In a statement after the vote, Murray began:
And then, having at least explained herself, concluded:
For her part, Sen. Cantwell didn't even acknowledge the obvious cave to the GOP. She hyped the sales tax deduction and said simply:
With $60 billion a year lost to high earners, Cantwell's populism sounds canned.
In an 83-15 vote this afternoon, both Sens. Patty Murray and Maria Cantwell voted for cloture on President Obama's tax package compromise with the Republicans, moving the bill—which includes the controversial extension of tax breaks for people making over $250,000 a year— forward to sure passage on the senate floor. The bill also extends exemptions on the estate tax—providing exemptions up to $5 million per individual, after which the tax will be levied at a rate of 35 percent. (The tax used to kick in at $1 million at 55 percent.)
The bill includes lots of breaks for Joe and Jane Six Pack, such as extending unemployment insurance (Obama's get for giving in on tax breaks for the rich), the earned income tax credit, a higher-ed tax credit, and for Joe and Jane Six Pack of Washington in particular, sales tax deductibility.
Here's a summary of all the breaks.
While Washington State Democrats are likely peeved at their senators, Afternoon Jolt is going to give some points to Sen. Murray; at least in contrast to Cantwell. It's not that Cantwell, who's been playing the part of Woody Guthrie these days , failed to win the stimulus-style amendments to Obama's deal that she called for last week. (Hell, she gets props for all that.) It's that, in the end, Murray was grown-up enough to address the problems with the bill head on.
In a statement after the vote, Murray began:
I am disappointed that the only way to protect middle class families from a tax hike in January was to support an extension of all the Bush tax cuts. That’s why I voted twice in the past month to extend tax cuts for our middle class families who have been hurt most by our economic downturn. I am angry that Republicans played political games and held the middle class hostage to secure tax cuts for the wealthiest Americans.
The Republican game plan is simply irresponsible. Extending benefits to those who need them least and adding to our debt is wrong.
And then, having at least explained herself, concluded:
But I also could not sit back and allow taxes to be raised on Washington state families who are just struggling to get by.
In the end, this bill will allow hard working Americans who are stretching every dollar in these tough times to keep more of their hard earned money. And it prevents Republicans from cutting off unemployment benefits to those who are fighting to get back to work, stay in their homes and put food on the table during this holiday season.
For her part, Sen. Cantwell didn't even acknowledge the obvious cave to the GOP. She hyped the sales tax deduction and said simply:
This bill supports job creation and economic recovery by extending and expanding tax cuts for working families and the middle class, and provides a crucial lifeline for those who have been searching for work for an extended period. The lion’s share of this package is devoted to tax cuts for the middle class.
With $60 billion a year lost to high earners, Cantwell's populism sounds canned.