Democrats to Propose Extending Bush's Middle-Class Tax Cuts

[Scurrilous]

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"Senate Democrats will soon advance a plan to make permanent President George W. Bush's 2001 tax cuts for middle-class Americans earning less than $200,000, but let the tax breaks for the wealthiest Americans expire, two Senate party aides said Tuesday. They will also propose to reinstate a 45% estate tax on individuals for the next two years.

The emerging tax plan is designed, as much as anything else, to clarify the differences between the two parties as they hurtle toward the fall elections. Following on their success with the financial-regulatory-reform bill, Democrats are betting that Republicans will once again take up a legislative battle on behalf of the wealthy. "Republicans are going to have a real choice ahead of them," says a Democratic aide. "Are you for extending these tax cuts for middle-class families or are you against them because you want to protect tax cuts for the wealthiest 1% of Americans?"

The showdown could come as early as August, now that Senate majority leader Harry Reid has decided to keep his colleagues in Washington through the middle of next month."

Read more: http://www.time.com/time/politics/article/0,8599,2005389,00.html#ixzz0uLD5A8MF