Morning Examiner: Why would any conservative vote against a $4.1 trillion tax cut?
Taxes are set to go up by $4.6 trillion on January 1st. That is the law of the land. Yesterday, the official tax scorekeeper of Congress, the Joint Committee on Taxation, released their analysis of Speaker John Boehner’s, R-Ohio, Plan B. According to the JTC, Plan B would cut taxes by $4.1 trillion over ten years.
It should come as no surprise that Minority Leader Nancy Pelosi, D-Calif., whose entire political career has been devoted to enlarging the size and scope of the federal government, is whipping hard against Plan B. “I haven’t seen her work a vote this hard since health care” in 2010, one top Democratic aide told Politico. Pelosi is expected to get every member of her Democratic Caucus to vote against the bill.
To address Republican concerns that Plan B does not undo the scheduled $500 billion cuts to Defense spending, Boehner has also scheduled a vote on a bill from House Budget Committee Chairman Paul Ryan, R-Wis. Ryan’s bill not only replaces the Defense spending cuts with other cuts to domestic spending, but also shrinks government even more. “This bill replaces the sequester for one year with responsible spending cuts, that protect our national security, and provides an additional $200 billion in savings over ten years, Majority Whip Eric Cantor spokesman Rory Cooper told Politico. “This is yet another step House Republicans have taken this year to address the real fiscal problem in Washington, which is spending.”
So not only does Plan B cut taxes by $4.1 trillion, but it also now preserves the $1.2 trillion in cuts Republicans fought for last year. And it cuts another $200 billion in spending. “The speaker’s plan is the best we are going to do and I think people recognize that,” Rep. Bob Turner, R-N.Y., told National Review.
If the House passes Plan B, Senate Democrats will then be forced to either amend the bill, thus putting what were previously back room negotiations out into the open, or they will have to own the $4.6 trillion tax hike on the American people. If Plan B fails, then House Republicans will own the tax hike. Why would any conservative want that?