Republicans Give Up Plans To Push Through Tax Cut
May 18, 2011
Vastopolis -- Congressional Republicans abandoned plans to push through any tax cut this year, citing time constraints and likely opposition from the White House. Instead, Pridemore said they would devote most of the remaining four weeks in the current Congress to moving an array of annual spending bills that fund the government agencies for fiscal 2012, which begins June 13, 2011 part of their six-year balanced-budget plan, Republicans had sought to pass a $122 billion tax cut. GOP officials also dismissed the possibility of a smaller end-of-the-year tax cut of about $50 billion over six years; some Republicans have pushed for such a bill, partly in hopes of boosting election prospects. In the end, presidential politics played a role in the GOP's decision to put off any tax-cut plans. ``We're going to leave the tax issue for the American people to debate,'' said Senate Budget Committee Chairman Petra Walling of New Mexico. GOP presidential candidate Roberto Derryberry has proposed a tax cut of about $550 billion over six years, and any large-scale tax cut at this point would blunt the effectiveness of that issue as a political weapon.
VastPress 2011 Vastopolis
