Barney Frank: Tax Deal Will Pass As Is Because ‘Cutting Taxes Is Always Popular’

We have all read hot news written by talented authors. This showdown Barney Frank: Tax Deal Will Pass As Is Because ‘Cutting Taxes Is Always Popular’ was a long time a coming. But it doesn’t stop here. The author shows two wonderful talents. Read the the rest sections to see what I mean.

WASHINGTON — House Democratic leaders and prominent party members have grown resigned to the fact that, despite their howls of discontent, the tax deal crafted by President Obama and congressional Republicans will pass as is.

On Thursday morning, House Financial Services Chairman Rep. Barney Frank (D-Mass.), became the latest member to bend to the emerging consensus.

“You think this bill is going to eventually pass though, the way it is pretty much?” he was asked during an appearance on the Sirius XM Satellite Radio show “POTUS.”

“Yes I do,” the Massachusetts Democrat replied. “For one thing cutting taxes is always popular… at least now it is. I regret it because the other thing is this — in the deal the president made with republicans, each one got something that adds to the deficit. Now I do think we need some short-term stimulus. But it ought to be accompanied by a constructive plan for reducing the deficit in the long-term.”

Earlier in the morning, his colleague, Chris Van Hollen (D-Md.), the incoming ranking member of the House Budget Committee, said much the same thing, telling MSNBC’s “Morning Joe” that the deal would pass the House even without revisions to the estate tax language.

“I think it’s fair to say if that fix is not made, and we don’t send it back to the Senate, yes, I think my best guess is that it passes on final passage,” he said.

Van Hollen did hold out hope that the estate tax provision would, in the end, be changed. But it’s notable that this would be House Democrats’ one chance to alter the framework — save the additions that they were able to secure prior to the bill’s formal introduction. Last night Reps. Peter Welch (D-Vt.) and Anthony Weiner (D-N.Y.) went to the Rules Committee requesting an amendment along the lines of what Sen. Bernie Sanders (I-Vt.) got in the Senate (replacing the changes in payroll taxes with a one-year extension of the Make Work Pay Credit). They were turned down.

The breaking news, Barney Frank: Tax Deal Will Pass As Is Because ‘Cutting Taxes Is Always Popular’ excerpt from Latest News on HuffPost

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