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  1. #1

    Default Obama facing tough sell in own party on tax deal


    WASHINGTON – In a role reversal, President Barack Obama now has to lobby fellow Democrats to vote for a bill he considers crucial — legislation that would retain existing tax rates for the middle class and stretch the safety net for the jobless.
    House Democratic leaders say the package is tilted too much in favor of the wealthy, putting Obama on the defensive for striking a deal that is picking up support among GOP lawmakers and business groups.
    Some Democrats are unhappy that Obama agreed to extend expiring tax cuts to all Americans, including high earners, and that he agreed to impose a lower estate tax on wealthy heirs. Both provisions are seen by many Democrats as giveaways to the rich that will do little to help the economy.
    In return, Democrats would get extended jobless benefits for people who have been unemployed for long stretches. Workers would also see their share of Social Security payroll taxes cut by nearly a third for the coming year.
    "So far, the response has not been very good," House Speaker Nancy Pelosi said. She called the estate tax provision "a bridge too far."
    If Democrats kill the package, it would mark a stunning defeat for Obama and a huge political bet that voters will blame Republicans as much as Democrats for an impasse that would lead to higher taxes starting Jan. 1. Many congressional insiders doubt that Democrats will take that gamble. But liberal lawmakers' discontent is hard to measure in the wake of last month's big election setbacks.

  2. #2
    up nya ko para sa update..

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