With the lame duck session will they get the Bush tax cuts through. Lingering and not willing to reach an agreement will only hurt the economy further as we come to the Christmas Season. President Obama wants to tax higher income people while Republicans and many Democrats want all tax cuts to continue. Some analysts believe there are two leading theories - either all of them will be extended or nothing will happen.
Passing the tax-cut extension would be harder to accomplish in a lame duck session. The Democrats would fall short of 60 needed to extend only the middle class tax cuts.
The bad thing for us as consumers is that letting the tax cuts linger into the new year will drag down the current economic uncertainty and stunt economic growth.
The best scenario for us as tax payers is a clear extension of all tax cuts, at least for one year, and to do it before Thanksgiving.
Can both parties put aside their partisan ways and put the American people and their businesses first? That is the imminent question before us.
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