Tax cuts for the rich enacted during 2001 and 2003 are set to expire at the end of the year. And both sides of the aisle are raring for a fight, “seeing it as emblematic of each party’s economic principles.” Democratic leaders in Congress have vowed to boost the top tax brackets to rates that were in effect in the nineties. But a growing contingent of moderate Democrats are pushing back on the idea of increasing taxes on the rich, even just to pre-2001 levels. Some represent regions with wealthy constituents. Others just don’t want their name attached to a tax increase. Without their backing, measures to repeal the Bush tax legacy will probably fail. Still, it’s a novel campaign strategy. In order to get past people’s distaste for voting Democrat, these guys will just pretend to be Republicans.
Democrats unlikely to repeal tax cuts for the rich [McClatchy DC via Daily Beast]