President Barack Obama may be willing to compromise on the issue of extending the Bush-era tax cuts for everyone, rather than just for those with annual income of less than $200,000 a year. But so far Senate Majority Leader Harry Reid has taken a hard-line stance against the Republican-backed proposal to extend the cuts for everyone, The Hill reports
Reid will demand a vote on continuing the cuts that would allow them to expire for the wealthy.
But it remains up in the air as to whether the vote will be for a permanent or temporary extension. That’s because of a split in the Democratic caucus. Since the election many Democrats, including Obama, have come to realize they’ll at least have to accept a temporary extension of cuts for everyone if they want any cooperation from the GOP.
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