"All Bills for the raising of Revenue shall originate in the House of Representatives;"
Anyone know how the Senate can originate this morning's fiscal cliff bill? Seem like they did, and the newsies haven't said anything about Article 1 Section 7.
4 comments:
The bill introduced extended the Bush tax cuts and let the people making $450k+ a year expire 40% now instead of 35%. Not exactly soaking the rich like the socialist nutjob in France (75% tax rate)
Overall I think it is a good compromise, there are spending cuts and it is a step towards balancing the budget again something that we haven't seen since Clinton handed the keys to Bush.
I agree, hiking taxes on just those making $400K and up is better than hiking taxes on everybody. That's pretty obvious. It passed the Senate by a landslide. It had more trouble in the house with 150 odd republicans voting again it. Dunno what they were thinking.
My point is the Constitutional requirement that revenue bills originate in the house seems to have been ignored, and the newsies haven't said boo about it.
Tell me about those spending cuts. There was a little pork hidden inside, only a few billion, not too shabby, and a pricey extension of un employment benefits. And the "sequester" was postponed two months.
My mistake on that.
The first deal that Boehner and Obama hammered out was to let the tax breaks on $400k+ earners expire (up from the original $250k+ mark) and cut government spending by $800 billion over the next decade along with some other good concessions.
My understanding is that Boehner couldn't get the house republicans behind that deal, so instead letting people see a fractured voting bloc they dragged it out to the 11th hour.
Now they have a fractured base for everyone to see and nothing meaningful was done to reduce spending. It would be nice if they could hammer out a deal to get the debt under control. I agree with the tax increase, but there is a whole lot of spending that should be cut.
Band-aid on a gunshot wound.
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