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

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 15,348.27 -6.13 -0.04%
Nasdaq 3,495.43 -3.54 -0.10%
S&P 500 1,667.27 -0.20 -0.01%
Treasuries 1.96 0.01 0.46%
Data as of 1:36pm ET
Company Price Change % Change
Bank of America Corp... 13.56 0.13 0.97%
Cisco Systems Inc 23.72 -0.52 -2.15%
Microsoft Corp 34.91 0.04 0.11%
Ford Motor Co 15.07 -0.01 -0.06%
Advanced Micro Devic... 4.13 0.06 1.47%
Data as of 1:21pm ET
Sponsors

Sections

Two leaders in food delivery, Seamless and GrubHub, announced that they will merge on Monday morning. More

Poverty is growing faster in the suburbs than anywhere else in the United States, surging 64% over the past decade. More

Tumblr is the latest startup to be acquired by Yahoo, but the big purple tech giant's previous buyout record is spotty. More

Small business owners say they're not yet feeling the effects of an improving economy, and most aren't rushing to hire, or seeking funds to invest in their businesses. More

Between ballooning student loans, credit cards and money owed to family members, graduates of the class of 2013 are facing an average $35,200 in debt, a Fidelity survey found. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2013 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2013 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2013. All rights reserved. Most stock quote data provided by BATS.