Legislation to Extend Only Middle-Class Tax Cuts Fails to Advance in Senate Vote

For over 50 years, Bloomberg BNA’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...

Senate Democrats, as widely expected, fell seven votes short of the 60 votes needed to limit debate on two amendments that would permanently extend only tax cuts applying to the first $200,000 earned by individuals and $250,000 earned by couples.
Democrats said they knew when they scheduled the votes that the legislation would not pass, but they wanted to use the votes to highlight the differences between their position on the tax cuts and the Republican position to extend all of the Bush-era individual income tax cuts. Sen. Charles Schumer (D-N.Y.) said bluntly that the vote will be used to attack Republicans over the next two years. “Every time they comes to the floor and talk about deficits, we're going to remind them of the $300 billion they wanted to add to the deficit by extending tax cuts for the rich,” Schumer said.