Skip to comments.Obama, Republicans reach deal to extend tax cuts, unemployment benefits
Posted on 12/06/2010 4:13:56 PM PST by USALiberty
President Obama and congressional Republicans have agreed to a tentative deal that would extend for two years all the tax breaks set to expire on Dec. 31, continue unemployment benefits for an additional 13 months and cut payroll taxes for workers to encourage employers to start hiring.
The deal has been in the works for more than a week and represents a concession by Obama to political reality: Democrats don't have the votes in Congress to extend only the expiring tax breaks that benefit the middle class. The White House estimates that the proposed agreement would prevent typical families from facing annual tax increases of about $3,000, starting Jan. 1.
Obama was able to extract an agreement from GOP leaders to support an additional 13 months of jobless benefits, a 2 percent employee payroll tax cut and extensions of several tax credits aimed at working families that were included in the stimulus bill.
(Excerpt) Read more at washingtonpost.com ...
And MORE unemployment "benefits" to the chronically jobless? WTF?
The death tax STAYS?
The GOP CAVED! This is NOT what we voted for?
This is a sell-out. The TEA PARTY IS WATCHING!
“Comrade Shailagh Murray “
The GOP could have held strong, but the RINOS no doubt had something to do here. I get the feeling that the moderates wanted to rush this through before the next congress. We’ll see how negotiations go when these benefits expire.
Say hello to another year of 10% unemployment.
This will save the typical family $3000 a year, and Obama made a career out of claiming the Bush tax cuts only favor the rich and should expire?
A TEMPORARY extension of the tax cuts? TEMPORARY?
And MORE unemployment “benefits” to the chronically jobless? WTF?
The death tax STAYS?
Yikes sounds more like a stick up than a compromise.
Very bad deal. 13 more months of unemployment is an awful lot. And a TWO YEAR extension means that it will come up for renewal again DURING OBAMA’s TIME IN OFFICE.
In fact, it will come up for renewal in the lame duck session of 2012, so if Obama has been replaced by a conservative Republican, he will still be able to veto a further extension. And he will not be around to suffer the consequences.
I didn’t think the Republican leadership was this dumb.
Funny... they are saying almost the same things about their side. Almost word for word, except with A LOT more really, REALLY foul language. LOL.
My sister is one of those chronically unemployed. Had a baby 2 years ago and hasnt worked a day since. There is not a darn thing wrong with her just easier to stay home with her child. She is not looking for a job by any means but continues to collect unemployment.
I did. They just proved me correct.
They could have waited till they get more republicans in a month.
Its the elites in both parties. They know better than us common folk dont ya think?
hold on 13 more months of unemployment benefits in addition to the already 99 weeks in effect. If I got this wrong no one scream at me that I did not read everything there. This is nuts, where is the incentive to work - sit at home and collect unemployelfare (unemployment and welfare) - $310 a week and just eat bon-bons. that is more than a person gets on social security disability, which is one payment a month that a person paid into for quite a few years. Unemployment does not include health insurance. But a person can apply for medical assistance and food stamps. More people on the government rolls. America is becoming like the former Eastern bloc countries paid to stay at home. Soon China and russia employees will surpass the Americans.
I am in agreement with you on the 13 MONTH extension. I bet the 99ers are skipping with joy tonight.
I wonder if the new Congress can pass legislation to cut this off after January???
Indeed...businesses plan 3-5-10 years out, again the GOP gets suckered.
In six months the libtards will be shouting.....see, tax cuts do not create jobs!!!
The pubbies will fold like a cheap version of obama.
The list, ping
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Two years is a deal breaker. ‘12 will see a Bolshecratic Congress sabotage any more extensions, let alone permanence, leaving the next President with a disaster to cope with.
Unless, DumBO campaigns on make the tax cuts permanent, he will be a one termer. (While I don’t think he cares, his comrades do.) It will be a campaign issue.
Actually, it will come up pre-election -- in Sept-Oct 2012. The then GOP House can insure that it does, recall.
Whereupon, the Democrat Senate and Obama will have their feet held to the fire on a further extension -- or permanence. What does the Democrat Senate do then?
And, if lame duck-to-be President Obama should veto the extension/permanent status of the tax cuts, would not the Democrat Senate override it? In the interest of survival?
Actually, the timing is perfect.
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