Bush Tax Cut Vote Postponed Until After Midterms
by Clint Akarmann | Stanford University
By Clint Akarmann
The politically-divisive issue of the Bush tax cuts will now officially be postponed until after the November midterm elections after House Democrats decided to adjourn without holding a last-minute vote on the issue. The motion to adjourn passed 210-209 only by a single vote, with 39 Democrats joining Republicans in opposing the adjournment measure. The Democrats who voted against the measure are mostly considered to be in vulnerable, Republican-leaning districts or are conservative “Blue Dog” Democrats themselves.
Republicans criticized Democrats for adjourning without having an “up-or-down vote on extending all the current tax relief.” Democrats replied that Republicans wanted the House to stay in session in order to extend tax cuts to the wealthiest 2% of Americans, thus extending the deficit by $700 billion. Most Democrats support a plan by President Obama to extend tax Bush-era tax breaks only for the middle class and allowing the breaks to expire for high-earning household making more than $250,000 a year. Republicans favor continuing the Bush-era tax cuts, which effectively result in an across-the-board tax break for all households.
There are five weeks to go before the midterm elections, and the issue of the Bush-era tax breaks will certainly show up again. Both sides insist that what happened in the House will ultimately benefit their party but the true consensus remains to be seen.Clint Akarmann is a NGJ Editor and current freshman at Stanford University. He is interested in majoring in economics and enjoys following politics and current events while also spending time with his friends and family.