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No Deal, Mr. President (Updated)

Whatever is going on with House Republicans, Senate Republicans seem to be holding firm on the extension of the Bush tax cuts. In the Washington Post, Sen. Minority Leader Mitch McConnell was emphatic:

McConnell said Democrats have zero chance of passing Obama’s plan in the Senate. He said not a single Republican would support it, leaving Democrats short of the 60 votes needed to cut off a filibuster. “That’s a debate we’re happy to have. That’s the kind of debate that unifies my caucus, from Olympia Snowe to Jim DeMint,” McConnell said, citing the most liberal and most conservative Republicans in the Senate.

That plan, of course, is a combination of new spending and selective tax cuts while allowing the Bush tax cuts to expire. It is not often that Snowe and DeMint are in lockstep, but the prospect of tax hikes in a recession has that effect. Moreover, a growing number of Democrats now support a full extension of the Bush tax cuts:

Half a dozen Democratic senators and Senate candidates have voiced support for a temporary extension of tax cuts for the rich. In the House, more and more incumbents have also taken that position. Among them is Rep. Gary Peters, a Michigan Democrat who represents a traditionally Republican seat in the Detroit suburbs. Peters told the Detroit Free Press last week that extending the cuts “is the right thing to do, as anything less jeopardizes economic recovery.”

Given all that, it is no surprise that Minority Whip Eric Cantor has put out a statement that makes clear he’s not about to allow a tax hike on “small business people and investors. Raising taxes in this environment is a non-starter for me and millions of American small business people who are struggling to keep the lights on and meet their payroll obligations.” Cantor is calling for “Speaker Pelosi and President Obama to allow all members of the House — Republican and Democrat — to vote on legislation that would prevent tax increases for every American.” That sounds like the emerging consensus for the GOP, as well as for moderate Democrats who want to hold on to their seats.

UPDATE: Senator Lieberman has also joined the “No Deal” bipartisan coalition. He has released a statement that reads, in part: ” I don’t think it makes sense to raise any federal taxes during the uncertain economy we are struggling through. The more money we leave in private hands, the quicker our economic recovery will be. And that means I will do everything I can to make sure Congress extends the so-called Bush tax cuts for another year and takes action to prevent the estate tax from rising back to where it was.”


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