Tax Deal Passes

Friday, December 17, 2010 - 9:23am

Congress approves President Obama's tax deal, but conflict still remains.

The deal prevents a January first tax hike that would've cost the average family 3-thousand dollars, provides another year of unemployment benefits, cuts your payroll tax 2 percent and gives tax breaks to businesses and clean energy companies.

All at a cost of nearly 900 billion dollars.

House Majority Leader Steny Hoyer said, "There is probably no one who likes this bill, and therefore the judgment is, is it better than doing nothing?"

Texas Representative Jeb Hensarling said, "If we don't pass this legislation there's about to be a three-point-nine trillion dollar tax increase on the American people."

Refusing to back what they call a generous Estate Tax for the wealthy, some Democrats voted no.

Massachusetts Representative Barney Frank said, "We couldn't afford the 14 billion to give $250 to all the people who are having trouble paying their heating bills."

California Representative Sam Farr said, "There's nothing in this bill that's fiscal sanity, it's insanity."

Also, the Senate has given up on passing Democrats' trillion dollar spending bill. They will have to pass another temporary extension to keep government running past Saturday.

Illinois Senator Mark Kirk said, "For those who are not understanding what happened, did we just win?"

Alaska Senator Mark Begich said. "We cannot continue to bring props like that down or say who wins and loses and then giggle about it as they leave the floor."

It is a sign of conflict ahead, when more Republicans come to Capitol Hill in January.

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