December 1st, 2010
03:00 PM ET

Hoyer to allow vote Thursday on middle class tax cuts

Deirdre Walsh and Evan Glass
CNN Congressional Producers

Washington (CNN) – On the same day Congressional and White House negotiators met to broker a compromise on how to deal with the Bush-era tax cuts that are expiring at the end of the year, House Majority Leader Steny Hoyer announced that House Democrats would push ahead on a vote Thursday to permanently extend tax breaks just for those making $250,000 a year or less. Republicans argue tax cuts should be extended for everyone, including the wealthy.

Hoyer said the House bill would include permanent extensions of income tax rates for the middle class, plus tax breaks for married couples, the child tax credit, and the earned income tax credit.

The Maryland Democrat insisted that there was common ground between Republicans and Democrats on ensuring there are no tax increases for people making $250,000 or less and cited several polls showing the American public supports this approach. "We have agreement on that. There is not agreement on other aspects of issue, as you all know. But it is a shame that what we have agreement on is being held hostage by that on which we do not have agreement."

Hoyer maintained that moving forward with just a vote on the so-called middle class tax cuts would not interfere with the negotiations on the broader tax cuts, telling reporters Wednesday he spoke with the House Democratic negotiator in the talks, Maryland Democratic Rep Chris Van Hollen. "He and I both agree that this matter moving forward should not undermine negotiations on a compromise," Hoyer said.

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Filed under: 360° Radar
soundoff (3 Responses)
  1. Lee

    Not extending the tax cuts for the wealthy is infact more likely to result in the creation of more jobs. Because if more income is subject to taxes, business owners are more apt to reinvest their money into their business rather than pay the tax.

    December 2, 2010 at 5:32 am |
  2. Annie Kate

    If the tax cuts last through the end of this year then we will see this on our IRS returns for this year when we prepare them after the first of the year. The expired cuts would show up in our 2011 tax filings. If that is the case the house and Senate should wait and let the incoming Congress decide on the matter and do some other things that need to be done for the country – like extending unemployment for those people who still cannot find a job. These people are hurting now and Congress needs to help them now, not later.

    December 1, 2010 at 10:13 pm |
  3. Michael

    If the GOP was serious about their claims they would back extending the tax cuts for the lower and middle class, instead of giving a another big bonus to the wealthy elite. This just proves they only care about their corporate overlords, and have no intentions of reducing the deficit, unless it involves screwing the non-wealthy. If the tax cuts for the rich are so important for producing jobs then why are we in the situation we are in? Trickle down just involves the wealthy pissing on the rest of us. The class war already happened, and we lost.

    December 1, 2010 at 7:48 pm |