Olbermann: Obama turned his back on his base

House Resumes Debate on Tax-Cut Bill
The House Representatives, after a dispute among Democrats, on Thursday headed toward anticipated passage of the tax deal that President Barack Obama struck with Republicans that would likely boost The Economy but also deepen the Deficit. Democratic leaders hoped to approve the bill later on Thursday or early on Friday, after the bill snagged in a disagreement over how Liberal Democrats could vent their Disapproval of elements of the deal that they say are too favorable to the rich. The $858 bil...

Tax cut deal passes, heads to President Obama's desk
On the upside, the President's Tax Cut deal provides 13 months of Unemployment Insurance benefits, extends middle-class tax cuts, delivers targeted tax incentives for increased business spending including in the energy sector, and adds on top of that $120 billion in temporary tax cuts that are sure to have a stimulative effect. On the downside, Republicans refused to allow the Tax Cut deal to go forward without continuing the irresponsible Bush tax cuts for the wealthy, including an egregious s...

Tax cut deal passes heads, heads to President Obama's desk
On the upside, the President's Tax Cut deal provides 13 months of Unemployment Insurance benefits, extends middle-class tax cuts, delivers targeted tax incentives for increased business spending including in the energy sector, and adds on top of that $120 billion in temporary tax cuts that are sure to have a stimulative effect. On the downside, Republicans refused to allow the Tax Cut deal to go forward without continuing the irresponsible Bush tax cuts for the wealthy, including an egregious s...

House passes Senate Tax Bill now awaits Presidents signature
The House just held a final vote to past the Senate Tax Bill (which passed yesterday), the House passed the Bill by a vote of 277-148. The Senate tax Bill was brokered by President Obama and Republican Senate Minority Leader Mitch McConnell earlier this month after the Republicans held 2 million unemployed Americans hostage as their Unemployment Benefits were set to expire around Christmas Day. The Republicans also held millions of Middle Class working American families hostage as well by saying...

House passes $858 billion tax cut, stimulus bill
Search our databases WASHINGTON — A reluctant House of Representatives late Thursday voted 277-148 to approve sweeping tax Legislation aimed at boosting the nation’s struggling economy. The vote, just before the stroke of midnight, follows overwhelming Senate approval Wednesday and sends the historic $858 billion measure to President Barack Obama for his signature. The bill will prevent taxes from rising as scheduled on virtually all Americans on Jan. 1, extend jobless benefits for the lon...

House Passes Tax Cut Plan, Obama To Sign
After a bumpy ride, and a brief, unexpected revolt by Rank and File Democrats, the House passed President Obama's tax plan late Thursday night by a vote of 277 to 148. The vast majority of the 'no' votes were cast by Democrats. Because the package that passed the House is identical to the version that passed the Senate earlier this week, the bill will head directly to the White House for Obama's signature. House Democratic leaders had planned to tie a bow around the Obama Tax Cuts early this ...

House Democrats Vow to Resolve Procedural Impasse, Bring Tax Bill Up for Debate
Dec. 15: House Speaker Nancy Pelosi is flanked by Rep. Barney Frank, left, and Rep. Patrick Murphy during a news conference on Capitol Hill. House Democratic leaders on Thursday quelled an uprising among liberals over procedural issues with the massive Tax Cut package that was negotiated by the White House and Republicans. Democratic leaders emerged from an evening Caucus meeting Thursday, saying they were on track for a vote by the end of the night and started debate on the package later in the...

House votes to extend Bush tax rates, unemployment benefits
The Tax Rate Compromise package worked out between President Obama and the Republicans passed the House of Representatives Thursday night by a vote of 277 - 148. Walt Minnick (D-ID), the outgoing Congressman from Idaho's 1st Congressional District, voted with 138 other Democrats to extend the Bush Tax Cuts for two years and provide extended Unemployment Benefits for those who have been unemployed less than 99 weeks. The bill also cuts Social Security taxes for 2011 for some workers. 112 Democrat...

Democrats' bid to alter Obama tax bill fails (Reuters)
WASHINGTON (Reuters) – The Congress gave final approval late on Thursday to the deal President Barack Obama and Republicans made to extend expiring Tax Cuts -- a high-stakes gamble to create jobs at a cost of deepening the U.S. Debt. Over objections from many of Obama's fellow Democrats, the House of Representatives, on a 277-148 vote, passed the $858 billion package of renewed Tax Cuts and more Unemployment Benefits in an economy saddled with a nearly 10 percent jobless rate. Th...

BREAKING: Tax cut deal passes House, heads to Obama's desk
Late last night, the House of Representatives passed extension of currents Tax Rates and Unemployment Benefits by a vote of 277 to 148, despite a failed effort by Democrats to increase the Death Tax from 35% to 45%: A tax-cut Compromise between President Barack Obama and congressional Republicans - a harbinger of a new era of divided government in Washington - cleared the House around midnight Thursday, sending the $858 billion bill to the president’s desk. The bill, which passed 277 to 14

BREAKING: Tax cut deal passes House, heads to Obama's desk
Late last night, the House of Representatives passed extension of currents Tax Rates and Unemployment Benefits by a vote of 277 to 148, despite a failed effort by Democrats to increase the Death Tax from 35% to 45%: A tax-cut Compromise between President Barack Obama and congressional Republicans - a harbinger of a new era of divided government in Washington - cleared the House around midnight Thursday, sending the $858 billion bill to the president’s desk. The bill, which passed 277 to 14

Congressman Jared Polis the story behind the story on the tax compromise bill
Congressman Polis was kind enough to talk to me last night and explain what was going on behind the scenes on the tax Compromise bill from the Democratic House perspective. It's a fascinating story with several parts posturing, several parts negotiating, and a sprinkling of making a point. It's not politics as we learn it in the textbooks, but it is politics as it is actually practiced. And thank you to Jared for laying out what was actually going on. (I think how Jared and others in t...

What the New Tax Bill Deal Means for You
Despite objections raised by Democrats, and a lengthy delay of the final vote until late Thursday, the House of Representatives has passed an extension of the Bush-era Tax Cuts, keeping Payroll Tax rates for all wage earners at current levels. The $858 billion bill, a product of negotiations between President Obama and Republican lawmakers in the Senate, also continues a cut in Social Security taxes. That means you'll continue to bring home more in your paycheck. The tax-cut plan extends thro...

House passes president's tax-cut compromise
(12-16) 04:00 PST Washington - -- Enraging the liberal wing of his party, President Obama won the biggest Bipartisan victory of his presidency Thursday as the House passed his $858 billion, two-year Compromise with Republicans that temporarily extends all the Bush-era Tax Cuts and Unemployment Insurance. Furious Democrats - who in one of their last acts in the House majority found themselves extending the policies of former President George W. Bush - delayed passage until late in the evening, ...

House gives final approval to tax-cut bill
WASHINGTON -- Congress approved the most significant tax bill in nearly a decade late Thursday, overcoming liberal resistance to continue for two more years Tax Breaks enacted under President George W. Bush and to provide a fresh boost of federal support to the tepid Economic Recovery. The package, brokered by President Barack Obama and Republican leaders after the November Elections, angered many Democrats, who have long argued that the Bush Tax Cuts were skewed to benefit the wealthy. But the...

House approves tax-cut package
Published: Dec. 16, 2010 at 11:59 PM Rep. Jim McGovern (D-MA) attends a House Rules Committee in Washington on March 20, 2010. The Committee is expected to pass a rule that will incorporate the Senate Health Care bill into the House version before the House votes tomorrow on a final version of the bill. UPI/Alexis C. Glenn WASHINGTON, Dec. 16 (UPI) -- The U.S. House late Thursday approved Legislation negotiated by President Barack Obama and congressional Republicans to extend Tax Cuts enacted 10...

House debates tax package, vote set
Published: Dec. 16, 2010 at 9:27 PM Rep. Jim McGovern (D-MA) attends a House Rules Committee in Washington on March 20, 2010. The Committee is expected to pass a rule that will incorporate the Senate Health Care bill into the House version before the House votes tomorrow on a final version of the bill. UPI/Alexis C. Glenn WASHINGTON, Dec. 16 (UPI) -- The U.S. House Thursday debated Legislation negotiated by President Barack Obama and congressional Republicans to extend Tax Cuts enacted 10 years ...

Insurgent Democrats slow tax bill in House
WASHINGTON — The House struggled to overcome an uprising by insurgent Democrats late last night and pass an $858 billion package of Tax Cuts and stimulus spending that would save nearly all Americans at least hundreds of dollars. The vote is critical to President Obama, who has made the case for Compromise over complaints from the base of the Democratic Party, which has been pressing him to fight harder and keep a campaign promise to allow Tax Cuts to expire for wealthy Americans. The Sen...

A Smart Argument Against the Tax Cut Compromise
It's harsh -- maybe too harsh -- but it's smart. Howard Gleckman, whom I overwhelmingly trust on all tax policy questions, says the president's Bush Tax Cut deal "isn't stimulus, and it isn't smart." By my rough calculations, more than half --at least $450 billion--will do little or nothing to boost The Economy in the short run. It won't increase demand for goods and services. It won't increase investment. And it certainly won't create many new jobs. It will, however, provide a fabulously genero...

US tax cuts given final approval
US MPs have given final approval to President Barack Obama's contentious deal with Republicans to avert a New Year's tax hike and extend aid to the jobless, despite a Democratic rebellion. A day after the US Senate passed the package by an 81-19 margin, the House of Representatives followed suit 277-148, sending the measure to Obama to sign and reap a restorative Bipartisan victory six weeks after an Elections rout. The $US858 billion ($A869.3 billion) measure was expected to give the American e...

Congress passes extension of Bush-era tax cuts
Congress approved the most significant tax bill in nearly a decade late Thursday, overcoming liberal resistance to continue for two more years Tax Breaks enacted under president George W. Bush and to provide a fresh boost of federal support to the tepid Economic Recovery. This Story Congress passes extension of Bush-era Tax Cuts Senate Democrats give up on earmark-laden spending bill Brown Says Tax Cuts Blow `Outrageous' Hole in Deficit Republicans and tax cuts? Now that's rich. Graphic: How ...

House Passes Tax Deal 277-148, Sending Bill To President
Ryan Grim and Arthur Delaney contributed reporting. WASHINGTON -- A coalition of Republicans and conservative Democrats combined to push the Obama-GOP tax-cut deal through the House by a vote of 277-148 in Friday's early morning hours. The bill slashes the Estate Tax, extends all the Bush Tax Cuts and reauthorizes Unemployment Insurance for 13 months. The bill will now go to the president for his signature. The crucial vote was not on final passage of the tax cuts, but on the vote before, to ...

House clears tax-cut bill, on to Obama
WASHINGTON — Congress approved the most significant tax bill in nearly a decade late Thursday, overcoming liberal resistance to continue for two more years Tax Breaks enacted under President George W. Bush and to provide a fresh boost of federal support to the tepid Economic Recovery. The package, brokered by President Obama and Republican leaders, angered many Democrats, who have long argued that the Bush Tax Cuts were skewed to benefit the wealthy. But their last-minute campaign to sca...

House gives final passage to Obama tax deal (Reuters)
WASHINGTON (Reuters) – The U.S. Congress gave final approval late on Thursday to the deal President Barack Obama and Republicans made to extend expiring Tax Cuts -- a high-stakes gamble to create jobs at a cost of deepening the U.S. Debt. Over objections from many of Obama's fellow Democrats, the House of Representatives, on a 277-148 vote, passed the $858 billion package of renewed Tax Cuts and more Unemployment Benefits in an economy saddled with a nearly 10 percent jobless rat...

The Obama-GOP Tax Deal May Be Bipartisan, But It Isn’t Stimulus and It Isn’t Smart
A modest thought experiment: Here is a check for $858 billion. Your job is to boost short-term Economic Growth. What would you do with the money? President Obama and a huge Bipartisan majority of the Senate have given us their answer (and the House is likely to add its support tonight or tomorrow): They’d extend the Bush-era Tax Cuts, restore the Estate Tax but at an historically low level, cut Payroll taxes for all, protect the middle-class from the Alternative Minimum Tax for another ye...