The increasing gap between the rich and the poor is likely to be a key issues in this year’s election, and Democrats are preparing to ensure it’s a winner for them. To help them out, the plan may be to force a vote to repeal the Bush era tax cuts for millionaires prior to November.
According to Bloomberg News, New York Democratic Senator Chuck Schumer thinks the earlier they can get Republicans on the record refusing to allow the cuts for the wealthy to expire, the more they can use it in their upcoming campaigns. “That is one of the things we’re looking at very carefully. I think that the public is on our side.”
The cuts, which are set to expire on December 31st of 2012, have been long used as a political football by Congressional Republicans. The last renewal was in 2010, when the GOP forced Democrats to agree to the two year extension in exchange for continuing unemployment payments for millions of Americans who were running out of benefits. Since then, Republicans have been insistent that any budget bill that Congress proposes be balanced by cuts or revenue increases. But, they’ve required, no one should touch the millionaire tax cuts.
With Republicans controlling the House, and Democrats not having a filibuster proof Senate, rescinding the cuts won’t happen in 2012. But the debate over the issue itself could cause some definite issues for candidates on the trail.
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