Monday
The Senate substitute package, drafted by Finance Committee Chairman Max Baucus (D-MT) and backed by Majority Leader Harry Reid (D-NV), also contains language based on a proposal by Sen. Johnny Isakson (R-GA) that would extend and expand the first-time homebuyer tax credit. Specifically, the provision would continue the $8,000 first-time homebuyer credit through April 30, 2010, and allow a $6,500 credit for homebuyers who have lived in their current residences for five years or more.
The substitute legislation also would allow U.S. companies of every size to carry back net operating losses incurred in either 2008 or 2009 against income earned in any of the five prior years (limited to 50 percent of companies' income in the fifth year).
Inclusion of the tax breaks did not placate all Senate Republicans, however, as some continued to argue that the Democratic leadership was obstructing their right to offer amendments. "If we are really going to act like the Senate... Then we need to stop this," said Sen. Mike Johanns (R-NE), referring to Reid's procedural move last week to "fill the amendment tree."
Baucus countered that most Americans are more concerned about jobs than parliamentary procedure. "This amendment would help to speed the recovery from the Great Recession," Baucus said. "It would help to improve our economy, and it would help the American people."
While the unemployment benefits extension is fully paid for via an extension of the federal unemployment tax, the homebuyer tax credit and "carryback" provisions are partially offset by delaying implementation of a tax break for multinational corporations with respect to worldwide allocation of interest, and increasing the penalty for failure to file a partnership or S corporation tax return.
Today's vote has all but cleared the way for Senate passage this week, although Republicans are expected to force another "cloture vote" on the underlying bill, a move that would push a final vote to later in the week. Once the Senate clears its substitute legislation, the House could agree to the Senate's changes and subsequently send the bill to President Obama's desk. Otherwise, the two chambers would have to negotiate a final version by means of a conference committee.
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ANOTHER cloture vote may be needed????????? Say wha?????????????????
This could be what Shaheen was referring to when she said they are still trying to stall it.
ReplyDelete2 and a half weeks ago there were Senators says it was a 3 cloture process and that was why they were trying to get it done before they had to do the first one.
ReplyDeleteThey really want to have the blood of the American people on their hands! Dumb ass Republicans!!
Why would we ever think it could be done before the bitter end! Thats why not all the senators felt the need to be there today! They need the republicans were gonna keep up the games. I hope they all rot in hell and when I see them there I will make sure they do!
ReplyDeleteI just sent McConnell a nasty-gram
ReplyDeleteReid seriously needs to yank them in at midnight tomorrow, so if they want to yank us around with another go-round, it can start right away.
Another article did say as of now House is in session all week and possibly the weekend, and COULD vote on it any day (not just Tues or Wed) - NELP web site says the same thing, not sure where the Tues/Wed thing came from.
I am having chest pains.
I hope Reid steps up and actually does mandate them away from their families and in just to pass this with a vote. They want to play games, bring them in!
ReplyDeleteThey know it's gonna pass and they continue to just waste time. Stupid Republicans, at least the two bozo's holding this up!
So where exactly do we stand now? Wait 30 hours? Then a new vote?
Yes, we are waiting to tick down the 30 hours (if the Republicans insist on the full 30 hours) which would be about 11:30 Tuesday night. Since Reid is a wienie that means Wednesday before anything happens, and if the Repubs want another go-round, Reid would have to invoke cloture one more time (Wed), dead day is Thursday, vote Friday, then wait another 30 hours - so unless they are working all weekend (and remembering probably not since Reid is a wienie) then we are looking at next week.
ReplyDeleteSWAMP republicans with phone calls, emails & faxes tomorrow - especially those of you who have republican senators!!!
Oh, and as of now, they are not in session starting November 11.....they need a break from all their hard work.
ReplyDeleteHopefully this will be the last few days of this nonsense, and it will pass soon.
ReplyDelete2 no votes today and these people are still being childish.
That I totally agree with! Just because they procedurally have the "right" to stall, it is morally the wrong thing to be doing, playing games with people's lives like they are.
ReplyDeleteStill trying to sort through various news articles - there is so much contradictory info still floating around....it seems like some of these reporters act like if I throw out enough info and predictions, something is bound to be right and then I can take credit for it (as long as you ignore all the stuff I said that was wrong). Sometimes the contradictions are between different articles from the same source, and sometimes the contradictions are right in the same article.
Ridiculous!
I agree! to me it seems as if they all know it will pass but they are acknowledging the games the couple of moronic republicans are playing by playing the delay tactic, and they are just waiting for the hour glass to lose it's sand. Then they can move on to the vote and get it to the House then Obama. Sadly we all are stuck waiting for UC or 30 hours to run out.
ReplyDeletei hope those Senators making this so difficult do NOT get relected.
OK, I have read probably 100 articles written today after the cloture vote. The one above is the only one indicating Repubs might do one last stall. Most seem to indicate it should get through the house and to Obama this week. I am hoping the 99% of the articles are the ones that are right, lol
ReplyDeleteWe most likely won't know until late Tuesday or sometime Wednesday when Reid brings the final bill to the floor for a final vote....then we all hold our breath.
Stay tuned...............
I feel good that if/when it gets to the floor we should have the votes to get it passed. It wouldn't look good if 85+ senators all changed their votes.
ReplyDeleteI think they all want to get past this and be on to their vacation.
I hope you are right, but the media has been wrong so many times in the past 4 weeks and the Senators and NELP did say that once it started there were 3 clotures to go through. The republicans have not cut one once of slack all the way through this, so why would they now? They think they have the Democrats over a barrel and this is how they will get what they want. And remember, what they want is the deal with TARP and the House said they WILL NOT pass it with that amendment attached. Dont you wish you didnt find that article?
ReplyDeleteTARP or no tarp, they are stuck. All they can do is play games and waste more time.
ReplyDeleteI personally feel as if it's only a few Repubs that are stuck are TARP and are trying to leverage that. the rest i feel want this to pass, and are tired of the run around. They just want it brought to the floor for a vote and then on to their vacations.
We just need to get it to the floor.
I hope New Jersians wake up, because HOW this is funded is going to be HUGE is Boogie Man Chris Christie is elected governor tomorrow. Every poll still has them within a couple points of each other. Christie WILL decline stimulus funds. HE has made that crystal clear. Not understanding who is wanting to vote for that pig, it is really ticking me off. Where the F is Mendendez & Lautenberg to start screaming about THAT? Freaking Menendez didn't even vote today.
ReplyDeleteCorzine is no saint, but at least he understands people in his state need help. Christie is scum!
ReplyDelete