As expected, the DeLay House has attempted to kill the child credit by passing a swollen $82 billion tax cut that has little hope of passing the Senate. Apparently the House bill pays a whopping “96 percent of its benefits to middle- and upper-income taxpayers.” Said Charlie Rangel of the bill, “it was ‘one of the most cynical and hypocritical moves’ he had ever seen,” and you have to think that at this point Rangel’s seen a lot. For shame. Yet another reason why we should be embarrassed as a nation to have a guy like Tom DeLay calling the shots in Congress.
Tag: Congress
Rogue Exterminator.
Interesting…Tom De Lay has refused Dubya’s call to pass the child tax credit. “Ain’t going to happen,” replied the Exterminator. “The last time I checked, he doesn’t have a vote.” While De Lay’s recalcitrance probably helps Dubya/Rove achieve “triangulation,” I wonder if the White House will make De Lay pay…perhaps by allowing Dems to look into his abuse of Homeland Security mentioned the other day.
What would Strom do?
Found via TNR‘s Etc., Trent Lott tells us what he really thinks of helping poor children: “Although almost every Senate Republican voted for the [child tax credit], some clearly were unhappy at having to do so under what they considered public pressure from liberal groups and Democrats. Senator Trent Lott of Mississippi voted for the bill, but as he did so he stuck his tongue out, put his finger in his mouth and made a gagging sound, indicating his apparent distaste for the bill.” I wonder if C-SPAN caught this – it’d make for a great campaign ad to show the families of Mississippi.
No Child Left Behind?
Surprise, surprise. Dubya and the GOP’s new tax cut leaves out an increased child tax credit for the nation’s poorest Americans. After all, gotta keep the priorities straight…Some families out there might want a second SUV.
Cash Advance.
As it turns out, Dubya’s profligate ways have forced Congress to increase the federal debt limit (so as to avoid a government default) in the very week they mull over his (now Voinovich-friendly) tax giveaway for the rich. Coincidence? I think not.
Capital Gains, National Losses.
The House and Senate GOP agree on a compromise bill that cuts the tax rates on dividends to 15%. (Don’t worry, Mr. Burns – the wealthy also get their fix in the form of a capital gains rate cut to 15%.) But, problems for the dividend debacle remain…particularly in that the $383 billion package goes over the $350 billion cap established by GOP moderate George Voinovich. Can the Dems mount a last stand?
Deficit, Schmeficit.
Cheney breaks the tie as the Senate GOP pass the third-largest tax cut in history, one that includes a three-year moratorium on dividend taxes. Dems Zell Miller and Ben Nelson (and eventually Evan Bayh) joined the Republicans in passing the cut. (Republicans McCain, Chafee, and Snowe were opposed.) Of course, this tax giveaway for the rich does nothing to address the largest budget deficit in history…but that’s a problem for Dubya’s successors, isn’t it? And children don’t vote anyway.
Bait and Switch.
Republicans inadvertently stall the Dubya tax cut by putting the wrong number on the bill, thus blunting the force of the President’s arm-twisting US tour. It’s the little things that get ya.
The GOP Tax Pact.
With conservatives chomping at the bit to reduce capital gains taxes, the Senate GOP craft a compromise bill that appeases moderate holdouts like Senator Snowe. As I’ve said before, any tax cut given the current state of the economy and our budget deficits is a bad idea. And given how much of the heavy lifting Senator Snowe has already done, I’m surprised more Dems aren’t kicking up a fuss right now.
At long last.
Dubya may have tied up the release of the Reagan papers indefinitely (hmm, whatever for?), but at least one branch of government has the courage to air their dirty laundry. Senators Susan Collins and Carl Levin announce the release of the McCarthy hearing transcripts (available here.) There’s probably a number of good dissertation topics in there…