Reid Says Deal Is Unlikely Before Fiscal Deadline
Source: New York Times
Senate Leader Says Deal Is Unlikely Before Fiscal Deadline
By JENNIFER STEINHAUER
WASHINGTON Senator Harry Reid of Nevada, the majority leader, warned Thursday that there was scant time to put together a Congressional deal to avert the impending fiscal crisis and that no resolution was in sight.
I have to be very honest, Mr. Reid said as the Senate convened in an unusual session between Christmas and New Years Day. I dont know time-wise how it can happen now.
Mr. Reid offered his pessimistic assessment shortly before President Obama, cutting his vacation short, arrived back in Washington on Air Force One. White House officials said that before leaving Hawaii, Mr. Obama had spoken separately by phone with each of the four Congressional leaders about the status of negotiations, but they gave no details of the discussion.
Mr. Obama is expected to invite all four lawmakers to meet on Friday. In a related development, House Republicans were told to return to Washington on Sunday. Republican senators were planning to convene at the Capitol normally somnolent during Christmas week to strategize.
On the Senate floor Thursday, Mr. Reid excoriated House Republicans for failing to consider a Senate-passed measure that would extend lower tax rates on household income up to $250,000. He urged House members to return to the Capitol to put together at least a modest deal to avoid the more than half-a-trillion dollars in automatic tax increases and spending cuts set to begin in January.
The American people are waiting for the ball to drop, Mr. Reid said, but its not going to be a good drop.
A spokesman for Senator Mitch McConnell, Republican of Kentucky and the minority leader, confirmed that he had spoken with the president, and said that Mr. McConnell was happy to review what the president has in mind. But the spokesman, Don Stewart, said Senate Democrats had not come ahead with a plan.
When they do, members on both sides of the aisle will review the legislation and make decisions on how best to proceed, Mr. Stewart said.
Read more: http://www.nytimes.com/2012/12/28/us/politics/senate-leader-fears-not-enough-time-for-fiscal-deal.html?_r=0
customerserviceguy
(25,183 posts)And I don't see too many reasons as to why it's going to be any different with the Congress that gets seated in January, either.
plethoro
(594 posts)email saying we are so mad....
Coyotl
(15,262 posts)Then capital gains taxes go up. How would that ever be accomplished otherwise?
R. Daneel Olivaw
(12,606 posts)Obama can go on TV and say that the senate is working on legislation for he "Middle Class Tax Cut"...a simple enough bill to return the taxes of the middle class to where it was before the dreaded cliff.
He can tell America the Republicans have a chance to do right by the American people. If they decide not to do right then they can explain it to the middle class.
Leave it on the republicans shoulders, and wait for them to blink.
Coyotl
(15,262 posts)And the Rs will never win another election
Cha
(297,314 posts)Mr President, VP Biden, Pelosi, and Reid!
http://theobamadiary.com/
SHRED
(28,136 posts)Lower tax rates up to $500K or more cuts to Social Security or...?