$28 billion dollars more for the Republican tax cut just for 2013.
This is the problem with the tax deal not passing.
The nonpartisan Joint Committee on Taxation proved that it is a $300 billion dollar deal with the GOP tax cuts.
The Dems offered a tax cut for those folks under $250,000 that would have given us a $272 billion deal.
The GOP stood hard on the subject of tax cuts for 2012, and the Dems said that they would let it go into expiration if the GOP didn't go along with their plan.
Democrats have threatened to let all the Bush tax cuts expire on schedule in December of 2012 unless Republicans abandoned their push to preserve the cuts for taxpayers in the top brackets. So we didn't like the attitude of this idea.
Dems also felt that the deal of tax cuts from them was made more expensive by several new tax cuts.
They included an expanded credit for the working poor and a credit for college tuition. The tax deal would have added more than $800 billion into the tax situation in eight years.
Roger Chartier - The Author