Senate Passes Controversial Tax Package
The Washington Post is reporting that the Senate on Wednesday approved a sweeping tax package negotiated by the White House and congressional Republicans. The Senate passed the package by a vote of 81 to 19. Before senators began debating the $858 billion package in late morning, President Obama urged lawmakers in both houses to pass it "as swiftly as possible." He called the plan "an essential ingredient in spurring economic growth over the short run." The article suggests that passing this legislation could weaken the resolve of House Democrats who were looking to amend the measure in a way that would satisfy liberals without unraveling the deal altogether. A House vote could follow as soon as Thursday. Speaking before a meeting with business leaders, Obama said, "I am absolutely convinced that this tax cut plan, while not perfect, will help grow our economy and create jobs in the private sector." He acknowledged that lawmakers of both parties object to different aspects of the plan but said, "That's the nature of compromise." He added that "we can't afford to let it fall victim to either delay or defeat." We're glad he understands the nature of compromise. Let's hope he understands the nature of the beast.
Read more at the Washington Post.