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- Nov 26, 2015
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Senate Democrats have reached a deal to raise taxes on Americans earning more than $400,000 a year by repealing a popular tax loophole.
www.politico.com
excerpts:
Jon Tester isn’t up for reelection this fall, nor is he threatening to oppose a party-line Democratic bill that might increase taxes. He still has a warning for his colleagues.
“I don’t think raising taxes is a winner anywhere, OK?” Tester said in an interview.
If Democrats can pass a bill that cuts the deficit and drug costs, the Montanan added, “there’s some positive things you can talk about. But the bottom line is that no, taxes are never a winner. We need to be very careful.”
“I don’t think tax increases would be popular,” said Rep. Susie Lee (D-Nev.), one of the party’s most endangered House incumbents. But she added: “Let’s see what the Senate gives us.”
Incumbent Sen. Maggie Hassan (D-N.H.) said she’s focused on lowering prescription drug costs and was noncommittal about which tax increases the bill might include: “If it were about closing loopholes for the wealthiest people and big corporations, I think that might be something the caucus will look at.”
Though tax increases on high-income Americans and big companies poll well, Republicans are eager to disregard that nuance and cast Democrats as broadly raising taxes amid inflation as well as a possible recession. The GOP plans to hammer any tax increases the Democrats include in their bill ahead of November’s midterms.
“This is the worst time for the Democrats to try to raise taxes. Period,” said Wyoming’s John Barrasso, the No. 3 Senate Republican, who called Democrats’ proposals “radical.”
Sen. Gary Peters (D-Mich.), who chairs the Senate Democrats’ campaign arm, said the Medicare tax proposal is “something we should do” and that Democrats need to adhere to President Joe Biden’s pledge not to raise taxes on anyone earning more than $400,000.
Yet he too said he was unsure if tax increases on large corporations and millionaires might ultimately be included in the party-line package: “It’s worth considering. I don’t know if they’ll make it in this bill. We’ll see what happens. Clearly, people need to pay their fair share.”
And plenty of battleground House Democrats say they’re still ready to bet that soaking the rich remains popular back home if a bill comes before them.
“To say they’re popular would be a gross understatement,” said Rep. Tom Malinowski (D-N.J), offering a stark contrast to the tax hike worries of Gottheimer and Rep. Mikie Sherrill, his fellow Garden Staters. “I’ve never met a Trump supporter in my district who believes that Amazon should pay no taxes. The idea of making Amazon pay taxes while lowering the cost of prescription drugs takes it from like 97 to like 99 percent [approval].”
Others say that Manchin’s own methodical approach to shaping the bill — with his hyper-focus on inflation and targeted tax approach — helps them sell their own voters.
“Mr. Manchin has been very vocal about corporations paying their share, and I think that’s something that resonates significantly in my district,” said centrist Rep. Elissa Slotkin (D-Mich.).
“It’s easy to just rail against taxes and not even stick to the truth,” said Michigan Rep. Dan Kildee, a swing-district Democrat who also sits on the House tax-writing panel. “If we are explaining what we’re talking about — people who are at the very top of the economy paying their fair share — that’s not a hard argument.”
Dems agonize over election-year tax increases
They campaigned on raising taxes on the wealthy, but most Democrats agree they need to be "very careful" as negotiations on their party-line bill inch closer to November.
www.politico.com
excerpts:
Jon Tester isn’t up for reelection this fall, nor is he threatening to oppose a party-line Democratic bill that might increase taxes. He still has a warning for his colleagues.
“I don’t think raising taxes is a winner anywhere, OK?” Tester said in an interview.
If Democrats can pass a bill that cuts the deficit and drug costs, the Montanan added, “there’s some positive things you can talk about. But the bottom line is that no, taxes are never a winner. We need to be very careful.”
“I don’t think tax increases would be popular,” said Rep. Susie Lee (D-Nev.), one of the party’s most endangered House incumbents. But she added: “Let’s see what the Senate gives us.”
Incumbent Sen. Maggie Hassan (D-N.H.) said she’s focused on lowering prescription drug costs and was noncommittal about which tax increases the bill might include: “If it were about closing loopholes for the wealthiest people and big corporations, I think that might be something the caucus will look at.”
Though tax increases on high-income Americans and big companies poll well, Republicans are eager to disregard that nuance and cast Democrats as broadly raising taxes amid inflation as well as a possible recession. The GOP plans to hammer any tax increases the Democrats include in their bill ahead of November’s midterms.
“This is the worst time for the Democrats to try to raise taxes. Period,” said Wyoming’s John Barrasso, the No. 3 Senate Republican, who called Democrats’ proposals “radical.”
Sen. Gary Peters (D-Mich.), who chairs the Senate Democrats’ campaign arm, said the Medicare tax proposal is “something we should do” and that Democrats need to adhere to President Joe Biden’s pledge not to raise taxes on anyone earning more than $400,000.
Yet he too said he was unsure if tax increases on large corporations and millionaires might ultimately be included in the party-line package: “It’s worth considering. I don’t know if they’ll make it in this bill. We’ll see what happens. Clearly, people need to pay their fair share.”
And plenty of battleground House Democrats say they’re still ready to bet that soaking the rich remains popular back home if a bill comes before them.
“To say they’re popular would be a gross understatement,” said Rep. Tom Malinowski (D-N.J), offering a stark contrast to the tax hike worries of Gottheimer and Rep. Mikie Sherrill, his fellow Garden Staters. “I’ve never met a Trump supporter in my district who believes that Amazon should pay no taxes. The idea of making Amazon pay taxes while lowering the cost of prescription drugs takes it from like 97 to like 99 percent [approval].”
Others say that Manchin’s own methodical approach to shaping the bill — with his hyper-focus on inflation and targeted tax approach — helps them sell their own voters.
“Mr. Manchin has been very vocal about corporations paying their share, and I think that’s something that resonates significantly in my district,” said centrist Rep. Elissa Slotkin (D-Mich.).
“It’s easy to just rail against taxes and not even stick to the truth,” said Michigan Rep. Dan Kildee, a swing-district Democrat who also sits on the House tax-writing panel. “If we are explaining what we’re talking about — people who are at the very top of the economy paying their fair share — that’s not a hard argument.”
