(snip)"Dems won’t pass budget in 2010
House Democrats will not pass a budget blueprint in 2010, Majority Leader Steny Hoyer (D-Md.) will confirm in a speech on Tuesday
“It isn’t possible to debate and pass a realistic, long-term budget until we’ve considered the bipartisan commission’s deficit-reduction plan, which is expected in December,” according to Hoyer’s prepared remarks that were provided to The Hill.
The House has never failed to pass an annual budget resolution since the current budget rules were put into place in 1974."(snip)
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(snip)"Tax cuts enacted under former President George W. Bush are scheduled to expire at the end of the year, affecting taxpayers at every income level. President Barack Obama proposes to permanently extend them for individuals making less than $200,000 a year and families making less than $250,000—at a cost of about $2.5 trillion over the next decade.
"As the House and Senate debate what to do with the expiring Bush tax cuts in the coming weeks, we need to have a serious discussion about their implications for our fiscal outlook, including whether we can afford to permanently extend them before we have a real plan for long-term deficit reduction," said Hoyer, a Maryland Democrat."(snip)
(snip)"In the short term, government spending has been necessary to stimulate the economy, Hoyer said. But in the longer term, Congress will have to rein in spending and raise taxes to tackle the debt, he added.
"Raising revenue is part of the deficit solution, too," Hoyer said.
Senate Republican Leader Mitch McConnell said, "It's now official. Top Democrats on Capitol Hill are starting to signal their intention to raise taxes on the middle class."
On the spending side, Hoyer said Congress should consider raising the retirement age for full Social Security and Medicare benefits, and making those benefits progressive so that wealthier recipients get less than the needy."(snip)
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