NEW YORK TIMES: The Senate narrowly approved legislation on Wednesday to extend Bush-era tax cuts for the middle class but to let them lapse for more affluent households, in a surprise vote intended more to give both parties election-year cover than to produce a new tax law.
The Senate’s action — prompted by high-level maneuvering — was not expected to result in a Congressional agreement on taxes anytime soon. But the frantic give-and-take over tax cuts set to expire on Jan. 1 illustrated how eager both sides were to provide a way for senators to weigh in on the tax fight.
“This is not a serious piece of legislation because it is not going anywhere,” said Senator Mitch McConnell of Kentucky, the Republican leader, who opened the door to the showdown by dropping a filibuster threat… (more)
