It's been an interesting day in the tax world. As soon as the president announced Monday evening that he had reached a deal on extending the expiring Bush-era tax provisions, reaction was swift and in most cases harsh.
That hasn't stopped.
The White House is still pushing for quick Congressional approval of the deal. But some members are pushing back.
As you might expect, most of the anger is coming from the Democrats. Many feel that the prez gave up way too much to the Republicans. To that point, the White House made its economic folks available today to the press to note that in sheer dollars, Obama got more than the GOP.
The final numbers, pending Joint Committee on Taxation analysis, says the White House, are $245 billion in Obama supported tax breaks vs. $125 billion for Republican tax favorites of a more favorable estate tax and continued tax cuts for the rich.
Of course, that's not necessarily the point to many on Capitol Hill. Some lawmakers plan to fight the estate tax changes and there are plans afoot to stop the measure from coming to the House floor at all.
The Senate seems to be more receptive, with momentum starting to build in that body for the deal.
As for you and me, polls show public opinion is mixed when it comes to the tax proposal.
A Gallup poll released Wednesday shows 66 percent favor extending unemployment benefits and Bush-era tax cuts for two years across all income brackets.
But a Bloomberg National Poll finds that many Americans don't approve of keeping the cuts for upper-income taxpayers.
Did a pollster call you? Me neither. But here's your chance to sound off on the tax deal. Feel free to choose as many opinions as you like. And of course, comments are more than welcome.
- Obama, GOP strike deal to extend tax cuts
- House approves extension of middle-class tax cuts in symbolic vote
- Tax cuts task force to hammer out deal
- IRS commissioner chides Congress for its delay
in dealing with expired taxes
- Democrats who support Bush tax cuts
Want to tell your friends about this blog post? Click the Tweet This or Digg This buttons below or use the Share This icon to spread the word via e-mail, Facebook and other popular applications. Thanks!