The favor George W. Bush did for Democrats
The supercommittee may be collapsing, and it's because Democrats are using a weapon the last president gave them
By Steve Kornacki
Salon
The odds of the congressional supercommittee striking a debt reduction deal before next week’s deadline are fading by the hour, and for good reason: Democrats seem to be realizing just how much leverage they really have.
The simple fact that top Republicans in Congress and on the committee have put forward a proposal that includes around $250 billion in new revenue is itself a sign of the Democrats’ strong bargaining position. For two decades, ever since George H.W. Bush turned back on his “Read my lips” anti-tax pledge and faced a revolt from the right, Republicans have almost unanimously opposed the idea of any tax increase under any circumstance. But as jarring as the GOP’s shift seemed, congressional Democrats on Thursday made clear that they see it as wholly inadequate and that they’re ready to reject it without radical restructuring.
Their confidence is well-placed, and it comes from an unlikely source: George W. Bush.
The story goes something like this: When Bush came to office in 2001, his party controlled the Senate only because of Vice President Dick Cheney’s tie-breaking vote. So Bush sought to push his signature tax cut program through the Senate by using the reconciliation process, which makes filibustering impossible. Because it was designed explicitly to encourage deficit reduction, any bill passed under reconciliation can’t add to the long-term deficit. This presented a serious problem for Bush, because his tax cuts were projected to blow a massive hole in the deficit. So, as the Washington Post explained at the time:
(More here.)
By Steve Kornacki
Salon
The odds of the congressional supercommittee striking a debt reduction deal before next week’s deadline are fading by the hour, and for good reason: Democrats seem to be realizing just how much leverage they really have.
The simple fact that top Republicans in Congress and on the committee have put forward a proposal that includes around $250 billion in new revenue is itself a sign of the Democrats’ strong bargaining position. For two decades, ever since George H.W. Bush turned back on his “Read my lips” anti-tax pledge and faced a revolt from the right, Republicans have almost unanimously opposed the idea of any tax increase under any circumstance. But as jarring as the GOP’s shift seemed, congressional Democrats on Thursday made clear that they see it as wholly inadequate and that they’re ready to reject it without radical restructuring.
Their confidence is well-placed, and it comes from an unlikely source: George W. Bush.
The story goes something like this: When Bush came to office in 2001, his party controlled the Senate only because of Vice President Dick Cheney’s tie-breaking vote. So Bush sought to push his signature tax cut program through the Senate by using the reconciliation process, which makes filibustering impossible. Because it was designed explicitly to encourage deficit reduction, any bill passed under reconciliation can’t add to the long-term deficit. This presented a serious problem for Bush, because his tax cuts were projected to blow a massive hole in the deficit. So, as the Washington Post explained at the time:
(More here.)
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