NYT: White House Helps Block Extension of Tax Cuts (Thanks, George) [View All]

[kysrsoze]

ASHINGTON, July 21 - The White House helped to block a Republican-brokered deal on Wednesday to extend several middle-class tax cuts, fearful of a bill that could draw Democratic votes and dilute a Republican campaign theme, Republican negotiators said.

The impasse was the latest sign of deep rifts among Republicans about budget issues. House and Senate Republicans had badly wanted to pass a popular tax-cutting bill before the Democratic convention next week. But in an improbable series of machinations, White House officials opposed the tentative deal worked out between House and Senate Republican leaders that would have extended the tax cuts for two years at a cost of about $80 billion.

That left Republicans conceding that the tax-cutting effort is over, at least until Congress returns from its recess in September. The Republicans' inability to agree among themselves cost them the chance to highlight their link to tax cuts as the election season moves into high gear.

At issue on Wednesday were three "middle-income tax cuts'' that were a central part of President Bush's tax packages of 2001 and 2003. The biggest was a $1,000 child tax credit, which will be reduced to $700 at the end of this year. The other two big measures set to expire are a reduction in the "marriage penalty," which pushes two-income families into higher tax brackets; and an expansion of the 10-percent tax bracket to cut taxes for more middle-income families.

http://www.nytimes.com/2004/07/22/politics/22tax.html

More family values, eh? Well, I'm willing to pay my share but it's nice to see how the WH doesn't give a sh*t about us at all. More votes for Kerry!