Senate And House GOP Willing To Scale Back The Bush Tax Cuts
It's amazing what CBO reports about deficits as far as the eye can see and Alan Greenspan "gasoline on a fire" comments about cutting Social Security to pay for tax cuts will do to buckle the knees of even the most committed GOP taxcutters. Despite Dick Cheney telling Paul O'Neill right after the 2002 midterms that "Reagan proved that deficits don't matter," the GOP suddenly thinks that deficits in this election year do matter. They matter so much to the likes of Don Nickles and Pete Domenici in the Senate and Jim Nussle and Christopher Shays in the House that all are willing to go against Bush's desire to make his tax cuts permanent by either sunsetting the tax cuts in 2009, repealing the elimination of the estate tax, and even scaling back the upper income tax cuts as John Kerry and John Edwards would do.
Sounds like these guys don't want their party to have to run on the Bush tax cuts and the resulting deficits this year. Makes you wonder if they got the memo from Karl Rove.