It is also unclear how ugly the deal is. As Carlyle Group co-founder David Rubenstein once said to me with regard to other legislation "The devil is in the details."
No details have emerged but the headlines aren't pretty:
The agreement would raise taxes on "wealthy" Americans.
It would let a 2% payroll-tax cut lapse--meaning almost everyone's paycheck will be at least 2% lower in 2013.
AND, it delays across-the-board spending cuts.The details are likely worse.
The House is due back at noon Eastern time on Tuesday for a rare New Year’s Day session.
UPDATE: Senate is back in session.
UPDATE 2:
The Senate has passed the bill by a vote of 89 to 9. Now the bill goes to the House.
What the hell, Senate is in session? At this time, is the only point so they can squeeze through bills? There must be like 5 people there to vote or something. I'm not too sure what's happening here, can anyone explain?
ReplyDeleteI don't think it's quite 2103 just yet Bob. I don't think any of us will be here then. ;)
ReplyDelete