Legislators Meet to Discuss Bush Tax Cuts Today

Jillian Bandes | December 01, 2010 8:58 AM

A host of high-level lawmakers and officials will convene on Capitol Hill to discuss the extension of the Bush tax cuts, just as Nancy Pelosi plans to hold a vote this week on extending the cuts only to Americans making under $250,000.

Moderate Democrats are up in arms. They want a full extension of the cuts for just two years, which is an idea that Pelosi hasn't entertained. The moderates' idea of a temporary extension is somewhat curious. Those same moderate Democrats who are still in office next term will have to deal with this issue again — just when they're up for re-election, and just as their President is up for re-election as well.

Roll Call (subscription required):

...some centrist Democrats, who prefer a short-term extension of tax cuts for all income brackets, worry that having a vote this week on just the middle-class tax cuts leaves them vulnerable to GOP attacks claiming that they effectively supported a tax increase for higher wage earners.

Compounding their frustration is the fact that there almost certainly will not be 60 votes in the Senate to pass just the middle-class tax-cut extension. Some centrist lawmakers are questioning why Speaker Nancy Pelosi and her leadership team would press ahead with a strategy that many say contributed to the 63-seat loss that House Democrats suffered Nov. 2.

At the meeting today, Treasury Secretary Timothy Geithner and Budget Director Jacob Lew will have the chance to persuade Senate Finance Chairman Max Baucus (D-Mont.), Senate Minority Whip Jon Kyl (R-Ariz.), presumptive House Budget ranking member Chris Van Hollen (D-Md.) and presumptive Ways and Means Chairman Dave Camp (R-Mich.)