Senate Democrats want middle-class tax cut vote

By Jennifer Liberto, senior writer


WASHINGTON (CNNMoney.com) -- Senate Democrats are aiming to force a vote extending tax breaks for the middle class -- and not for those in the top income bracket -- before they adjourn for the midterm elections.

But it's not clear the vote will happen; and it depends on Democrats working out a procedural deal with Republicans, two aides and Senate Majority Whip Dick Durbin, D-Ill., said Tuesday.

If the vote happens, it will likely be a test vote on extending tax cuts - now slated to expire at the end of the year - for families earning less than $250,000 and individuals earning less than $200,000.

At this point, the chances of such a measure passing look slim.

Republicans have stood firm on supporting extensions of the 2001 and 2003 tax breaks for all taxpayers. Democrats need one Republican to support their more limited tax break extension and to avoid a filibuster blocking the issue.

President Obama has argued that the nation can't afford the extra $700 billion tab to extend tax breaks for those in the top income bracket. But moderate Republicans, even though they're also worried about deficits, maintain that tax breaks should be extended at least temporarily for all.

"Changing tax policy in the middle of the recession is just not a good thing to do," said Sen. Bob Corker, R-Tenn., who said he would support a two-year extension of tax breaks for all taxpayers. "In the interim, let's figure out a way to get our spending in line."

If Senate Democrats find a way to make the vote happen for middle-class tax breaks, it'll happen soon. The Democrats are contemplating an early return to the campaign trail, at the end of next week, Durbin said.

Senate Democrats and President Obama would like a vote on middle class tax breaks before lawmakers return to the campaign trail to reinforce Democratic support for pocketbook issues.

Moderate Republicans, Democrats Ben Nelson, of Nebraska and Kent Conrad of North Dakota, and independent Joseph Lieberman of Connecticut have indicated support for temporarily extending all tax cuts, even for the wealthiest, to help juice up the sputtering economic recovery.

-- CNN's Dana Bash contributed to this report. To top of page

Just the hot list include
Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 32,627.97 -234.33 -0.71%
Nasdaq 13,215.24 99.07 0.76%
S&P 500 3,913.10 -2.36 -0.06%
Treasuries 1.73 0.00 0.12%
Data as of 6:29am ET
Company Price Change % Change
Ford Motor Co 8.29 0.05 0.61%
Advanced Micro Devic... 54.59 0.70 1.30%
Cisco Systems Inc 47.49 -2.44 -4.89%
General Electric Co 13.00 -0.16 -1.22%
Kraft Heinz Co 27.84 -2.20 -7.32%
Data as of 2:44pm ET
Sponsors

Sections

Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More

Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.