
For Obama, Tax Deal Is A Back-Door Stimulus Plan
The New York Times reports: "Mr. Obama effectively traded tax cuts for the affluent, which Republicans were demanding, for a second stimulus bill that seemed improbable a few weeks ago. Mr. Obama yielded to Republicans on extending the high-end Bush tax cuts and on cutting the estate tax below its scheduled level. In exchange, Republicans agreed to extend unemployment benefits, cut payroll taxes and business taxes, and extend a grab bag of tax credits for college tuition and other items."
Obama's Day Ahead
President Obama will receive the presidential daily briefing at 9:30 a.m. ET. He will meet at 10:15 a.m. ET with Polish President Bronislaw Komorowski, and the two will hold an expanded meeting at 10:30 a.m. ET, and then deliver statements to the press and take questions at 11:05 a.m. ET. Obama and Vice President Biden will meet with Secretary of State Hillary Clinton at 2:15 p.m. Obama will hold a Cabinet meeting at 3:30 p.m. ET, and meet with senior advisers at 4:50 p.m. ET. He will sign the Claims Resolution Act, providing for the recent settlement with African-American farmers, at 5:30 p.m. ET.
In what amounts to an epic constitutionality #fail, Senate Democrats may have blown their chances to see their food safety bill signed into law.
The U.S. constitution requires that any revenue-raising bill must originate in the House of Representatives. To honor this provision, the Senate often finds a discarded old House bill, strips it bare, and uses it as a "shell" and passes it back to the House.
They somehow forgot to do that this time.
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