Many Democrats remain cool to President Obama’s tax compromise with Republicans.
After a closed-door meeting with Democrats last night, House Speaker Nancy Pelosi cited “unease” in her caucus. She said Dems will continue discussions. Senate Democrats have a closed-door meeting scheduled this afternoon and the tax deal is expected to be topic A. The President and Republican leaders agreed to extend all Bush-era tax cuts for two years, including those for the wealthiest Americans. That has prompted considerable grumbling among liberal Democrats. The agreement includes a 13-month extension of unemployment benefits.
Senator Harry Reid is not yet ready to back an agreement between President Obama and Republicans that would extend the Bush era tax cuts for two more years. On Tuesday, Reid warned he and other Democrats would “have to do some more work on it,” after hearing details about the deal from Vice President Joe Biden. The Senate Majority Leader warned he and other lawmakers were still “working through all this.” The deal reached Monday would also extend unemployment benefits for many jobless Americans, and provide various economic breaks and incentives. At a news conference Tuesday, Obama defended the agreement, saying middle-class tax cuts were being held hostage to tax cuts for those making more than 250-thousand dollars a year, and he was “not willing” to see the American people “get harmed.”
To learn more, KXNT Morning News spoke to CBS News Congressional Correspondent Bob Fuss.