Republicans Won't Offset Cost Of Extending The Bush Tax CutsQuicklink submitted by Amanda Lang Permalink
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|Since taking control of the House, Republicans have pushed to offset the costs of everything from emergency disaster relief to unemployment benefits and tax cuts for the middle class. Their singular goal is to cut the deficit and debt, and they're willing to gut social safety net programs, including Medicare, to do it. When it comes to the budget-busting Bush Tax Cuts, however, the story changes. Both the 2001 and 2003 versions of the Bush Tax Cuts expire at the end of 2012, and when the House GOP attempts to permanently extend the cuts later this year, they won't offer a plan to pay for them, The Hill reports: House GOP says it has no plans to pay for the extension of the Bush-era tax rates, a move that could erase the deficit reduction achieved since winning their majority in the chamber in 2010. The lawmakers also said that Republicans had always intended cuts to be permanent.|
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