Tax Fight

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Thursday, December 9, 2010 - 11:25am

Democrats may mount battle on new tax legislation

It looks like President Obama’s unpopular tax deal with Republicans will come up for a vote sometime next week, but opposition is mounting. Democrats have made it clear they won't just roll over and vote yes, "We need demonstrations. We need to put pressure on these people," said Senator Bernie Sanders, (I) Vermont.

Vice President Biden's trip to Capitol Hill convinced few democrats this tax deal is a fair compromise, "It is the biggest corporate tax giveaway I have ever seen in my entire life," said Rep. Alan Grayson (D) Florida.

Tax breaks for the rich, big corporations, and a renewed estate tax are all a part of the legislation, "There is just no reason this had to be part of the deal," said Rep. Chris Van Hollen, (D) Maryland.

"The only way we get out of hole we're in, is if we make shared sacrifices," said Senator Tom Coburn,(R) Oklahoma.

Opponents fear not just that the rich save money, but that Republicans will sweeten the deal later on, "They're going to come back for more and more," said Senator Bernie Sanders, (I) Vermont.

A vote on extending the Bush tax cuts, and unemployment, will likely happen next week. At least 50 Democrats have signed a letter opposed, and some even threaten a filibuster to delay the vote, "They can make their points but they don't have a plan that has any chance of passing," says Political Analyst Bob Schrum.

President Obama, however, is putting pressure on the legislators to make something happen, "Look at the facts, have a thorough debate, but get this done."

If Americans ring in the New Year and the legislation is still not passed taxes go up, and a Republican-controlled house will have to deal with it, "Let them tell the middle class they wont give them a tax cut. Let them tell the unemployed they can't have relief." Rep. Raul Grijalva, (D) Arizona.

Some Democrats are ok with bumping this issue to next year, forcing Republicans in charge to share the blame for the huge debt these tax breaks will create.

Tracie Potts, NBC News.
 

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