Tax cut extension drama on Capitol Hill
Lawmakers battle over plans
- Duration 2:31
- Date Jul 24, 2012
Lawmakers battle over plans
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This transcript is automatically generated
An ominous threat from the White House tonight the average family will be paying at least 16100 dollars more in taxes next year.
If congress does not pass the president's increase on higher earners.
Correspondent Molly Henneberg reports as you might expect.
The two parties are blaming each other.
-- a top senate Republican says Democrats need to fish -- cut -- on president Obama's push to extend to some but not all of the bush era tax cuts.
Then expire at the end of this year.
The Democrats believe the president's rhetoric they'll vote for his proposal.
And he'll work to get their support.
Now my guess it -- that democratic leaders won't allow a vote on the president's plan.
In brief senate Republicans want to extend all bush era tax cuts for a year.
Senate Democrats want to extend them for a year for individuals making less than 200000 dollars and for families making less than 250000.
As President Obama has called floor.
And they want to increase the estate tax what critics call the death tax to 55%.
On estates worth more than one million dollars.
That is state tax part is more than President Obama had wanted although his tax proposals -- never written up -- actual legislation the top senate Democrat majority leader Harry Reid.
Says Republicans are blocking a vote on any tax cut bill.
We are here.
Trying to get things done where -- stop every step away -- Almost all legislation in the senate needs sixty votes to pass but with some senators such as Connecticut independent senator Joseph Lieberman who caucuses with the Democrats.
Already saying that he will not vote with them on this bill.
Senator Reid has been pushing Republicans for a simple majority vote 51 votes to pass -- bill and chided them today for not agreeing to it.
Snowboarding on the Republican democratic pension plans we're sitting here.
And we're running out the clock because they have forces to do so.
Senator McConnell made no promises about a simple majority vote well we're up -- under discussion Capitol Hill watchers say all of this in the summer of an election year.
Is political theater to some extent I just think this is gonna be a procedural.
And then you gonna have the messaging wars.
The house is expected to vote on the GOP version of the bill next week and it likely will pass.
But in the senate the procedural vote is tomorrow thank you -- critics neither bill will make it to the senate floor.
-- the August recess looming in the busy fall election season after bass is probably will be put off until after the election.
Brett -- thank you.