Tax Cut

Wednesday, December 8, 2010 - 10:40am

The President feels he's worked out a deal, but Democrats aren't so sure.

Vice President Joe Biden heads to Capitol Hill today to try to convince reluctant Democrats to support the President's tax deal.

Democrats say the President should've hung in there longer. They're circulating a letter on Capitol Hill urging the party not to vote for it, "it simply adds to the deficit," said House Speaker Nancy Pelosi,(D) California.

"This is the way to move forward and the right thing to do," said Senate Minority Leader, Senator Mitch McConnell (R-KY)

President Obama insists tax breaks for the rich was the only way Republicans would agree to tax breaks for the middle class, "I have not been able to budge them," said the President.

Democrats aren't so sure, "I think we blink too soon. There's a couple more innings in this game," said Rep. Peter Welch, (D) Vermont.

House Democrats met last night. They still want to force the GOP's hand by going public telling Americans this is a choice between helping 98% - working families - versus the wealthiest 2%. "I think we have the American people on our side. I think we can win this," said Senator Bernie Sanders, (I) Vermont

Some Democrats want to scale back the estate tax before this comes up for a vote while others doubt whether it'll really be temporary, "if you don't have the backbone to let the tax cuts expire today, you're certainly not going to do it in the middle of a presidential election," said Rep. Bobby Scott(D) Virginia

Ironically, both sides are still undecided which could leave President Obama trying to pass his tax deal with a majority of republicans supporting it.

Tracie Potts, NBC News.
 

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