Tax Talks Break off as WH Insists on 5 Year Extension of Expiring tax cuts

[Cannikin]

WASHINGTON (AP) - Republicans are looking toward September to restart talks on extending three popular tax cuts as prospects for a deal this summer ended in deadlock between the White House and the Republican-controlled Congress.
The White House insisted that the three tax cuts, scheduled to expire at the end of this year, stay on the books for five more years. President Bush had asked Republican leaders to push a bill through Congress this week before a six week summer hiatus and the parties' presidential nominating conventions.

Lawmakers neared agreement late Tuesday to extend the three popular tax cuts for two more years. The shorter timeframe took into account worries among moderate senators, including a few Republicans, about record budget deficits.

The president rejected the two-year offer as insufficient, and tax writers pledged to restart talks when Congress reconvenes in September. Several Republicans said Bush conveyed his views on the tax cut bill in a brief Oval Office conversation with House Speaker Dennis Hastert, R-Ill. Hastert's spokesman John Feehery declined comment.

Continued:
http://ap.tbo.com/ap/breaking/MGBWEUVJYWD.html

[NightOwwl]

1. Sure, why not?

It will only increase our deficit to 2.2 trillion by 2010, but who's counting.

Center on Budget an Policy Proposals

[aquart]

2. Kinda nice to know Bush is CONSISTENTLY insane.

Wouldn't want him to be flipflopper.

[unblock]

3. note the religiously insane righties forget that "render unto caesar" bit

wwjd? jesus would say, 'pay your taxes'.
republicans always forget that one.

[Cannikin]

4. kick

[Yupster]

5. Sounds like they want to push the debate

to the election caampaign.

I don't know which taxes these are talking about though.