Tax Cuts Voted On In Senate, Extension Failed

San Francisco (Obama.net)- The talk over the Bush era tax cuts and whether they should extended to all American citizens or just those who do not make at least $250,000 per year has been going on for quite some time now and the time has come for the votes to take place.

Accordingly, the Democrats in the United States Senate took two different votes on Saturday to try to get the tax cuts extended.

The first vote was to pass Obama’s original vision that would extend the cuts for all but those making over a quarter of a million dollars annually. Another vote was taken to extend the tax cuts for all those who make less than one million dollars every year. Both the proposals failed to secure enough votes.

Only 53 votes were cast in favor of passing the measures, but in the Senate, 60 votes are needed.

President Barack Obama responded by saying, “I am very disappointed that the Senate did not pass legislation that had already passed the House of Representatives to make middle class tax cuts permanent. I continue to believe that it makes no sense to hold tax cuts for the middle hostage to (make) permanent tax cuts for the wealthiest two percent of Americans, especially when those high income tax cuts would cost an additional $700 billion that we don’t have and would add to our deficit.”

Mitch McConnell, the Senate Minority Leader from Kentucky, has stated that the process is still going on. He said that the two sides are still in talks and that he believes that by the end of this entire ordeal, “a very sensible decision not to raise taxes on anybody during a recession” will be made by the Senate.

However, Democrats are holding their ground. California’s Dianne Feinstein is maintaining that there is no evidence that the millionaires in the United States are hurting during these economics times and it makes no sense to help them when it is everyone below them that truly needs the help.

At the end of the day, the people of the United States are left disappointed. With less than a month remaining before the tax cuts expire, it is crucial that the two opposing sides in the Senate come to terms and do right by the American people. With the Midterm Elections well in the past at this point, there is no reason to play political games, especially ones that will be costing Americans money and potentially their homes.