Skip to comments.McConnell: Obama playing politics with plan to raise taxes (GOP will Filibuster Any Tax Increases)
Posted on 09/13/2011 12:10:17 PM PDT by SeekAndFind
Senate Minority Leader Mitch McConnell (R-Ky.) on Tuesday morning said President Obamas plan to raise taxes to pay for a $447 billion jobs bill had no chance of passing the Senate.
He called Obamas jobs package announced last week to a joint session of Congress a political exercise, describing it as disappointing.
McConnells forceful criticisms of the plan signal Obama will have a difficult time passing any of his proposal through Congress.
There is also brewing Republican opposition to an extension of the payroll tax holiday, which GOP lawmakers have viewed skeptically as a temporary fix.
McConnell said Republicans would reject Obamas call to pay for the plan with higher taxes on businesses and the wealthy.
The specifics we got yesterday only reinforce the impression that this was largely a political exercise, McConnell said of the revenue-raising measures recommended by the White House.
They undermine the presidents claim that its a bipartisan proposal because much of what hes proposing has already been rejected on a bipartisan basis, McConnell said. The half-trillion-dollar tax hike the White House proposed [Monday] will not only face a tough road in Congress among Republicans, but from Democrats too.
White House budget director Jack Lew said Monday that $400 billion for the jobs plan would come from capping the itemized donations claimed by individuals earning more than $200,000 a year and families earning more than $250,000.
McConnell said that would not survive a Republican-led filibuster in the Senate.
The central tax hike included in this bill, capping deductions for individuals and small businesses, was already dismissed by a filibuster-proof, Democrat-controlled Senate in 2009, McConnell said.
He signaled that Republicans would also oppose plans to raise revenue by raising the tax rates on hedge fund managers and the oil-and-gas industry.
Another idea floated by the White House [Monday], a tax on investment income, has been vehemently opposed by the number three Democrat in the Senate, among others, McConnell said in reference to Sen. Charles Schumer (D-N.Y.), vice chairman of the Senate Democratic Conference.
And a proposal to raise taxes on the oil-and-gas industry was rejected as the job-destroying tax hike that it is by Democrats and Republicans just a few months ago. And for good reason, since the nonpartisan Congressional Research Service tells us it wouldnt only raise gas prices, but would also move jobs overseas.
A Senate Democratic aide said McConnell mischaracterized Schumers position on taxing the profits money managers earn from clients portfolios.
McConnell is mistaken, said the aide.
The aide said Schumer has supported the so-called carried interest provision since 2007, even if the tax is applied only to hedge funds.
I hope they read the bill because there is tons of welfare programs in it. I think they need to mention those items too
Instead, they will abstain (vote "Present").
But NO Repub will vote FOR the bill. It will be 100% Democrat owned.
I am betting that the Democrats will be unable to pass the bill because they know it will tank the economy and they will have No One To BLAME.
Threatening to filibuster or defeat the bill will just play into Obummer's hand. He doesn't want it passed. The dems don't want it passed. They just want to blame the Repubs.
Why not vote “NO”?
Am I missing something?
Obama should just bypass congress and use 400 billion from the debt ceiling. That’s why he wanted it, now he has it. Then he can explain what he is going to do to pay the money back, without raising taxes like he promised.
No need. The dems control the Senate.
My approach puts the entire onus on the dems. As such, they will be afraid to pass it themselves.
They will kill it on their own and the repubs can not be blamed.
I am convinced that Obama doesn't want the bill - he just wants to blame the repubs.