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House Passes Tax Cut Plan, Obama To Sign Bill Today
By
Jen Chung
Published Dec 17, 2010
Modified Dec 17, 2010
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By
Jen Chung
Published Dec 17, 2010
Modified Dec 17, 2010
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Just after midnight, the House passed the plan for $801 billion in tax cuts—and $57 billion in unemployment insurance—in a 277-148 vote. Here's how the vote broke down: 139 Democrats and 138 Republicans voted yes; 112 Democrats and 36 Republicans voted no; 9 didn't vote. NYC Congressional Democrats Carolyn Maloney, Michael McMahon, Joseph Crowley and Gregory Meeks voted yes, while Anthony Weiner, Jerold Nadler, Nydia Velasquez, Edolphus Towns, Eliot Engel, Charles Rangel, Gary Ackerman, Yvette Clarke and Jose Serrano voted no.
President Obama, who had once promised not to extend tax cuts for the wealthy, brokered the deal to extend Bush era tax cuts with Republicans, citing the importance for the middle class to get tax cut, a compromise that was denounced by Democrats. But the deal passed the Senate, 83-15, earlier this week.
House Majority Leader Steny Hoyer (D-Maryland) said before the vote, "This bill, the president of the United States believes and I believe, will have a positive effect on the economy. I will vote for this bill because I don't want to see middle-income working people in America get a tax increase, because I think that will be a depressant on an economy that needs to be lifted up," but House Speaker Nancy Pelosi (D-California) accused Republican of forcing America "to pay a king’s ransom in order to help the middle class," because it means another $900 billion to the deficit. But, hey, Bloomberg must be happy, even if it is pointless for most New Yorkers.
Obama is expected to sign the bill today.
Tagged
bush tax cuts
deficit
president obama
republicans
tax cut
tax cut compromise
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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