Tag Archives: the-benefits

Senate Republicans and a handful of Democrats Saturday defeated a bill to reauthorize unemployment benefits for the long-term jobless and a plethora of tax provisions for the middle class not because of the bill's trillion-dollar deficit impact, but because it did not include tax cuts for the rich. “In economic times like these, 9.8 percent unemployment, you should not raise taxes on anyone,” Sen. John Barrasso (R-Wyo.) told HuffPost. … After Saturday's vote, it seems the only way Democrats will be able to overcome Republican opposition to the benefits will be by attaching them to a reauthorization of tax cuts for the rich. Sen. Bob Corker (R-Tenn.) said after the vote that he expected a tax cut deal to be reached by Thursday. … Republicans and conservative Democrats have opposed reauthorizing the benefits without offsetting their deficit impact by cutting spending from elsewhere in the budget. But those same lawmakers have not insisted that tax cuts for the rich, estimated to cost nearly $700 billion over 10 years, be offset in any way. A yearlong reauthorization of unemployment benefits would cost roughly $60 billion. During debate on the Senate floor before the vote, Schumer asked Sen. Chuck Grassley (R-Iowa) about Republicans' different positions on deficit reduction. “Could he please explain to me why it is OK to take $300 billion of tax cuts for those at the highest income levels, above a million, and not pay for it,” Schumer said, “and yet we have to pay for unemployment insurance extensions?” added by: tverdell