If Republicans retake the majority, which they probably will, their first move will be to extend the Bush tax cuts:
"Well, we're going to stay focused on Election Day. But I think before that, we're going to continue to demand that this administration and this Congress make it clear that no American will see a tax increase in January of next year," Pence said during an appearance on CNBC.
"So the first thing that we will do is try to preserve the tax relief of 2001 and 2003 for all Americans — for all small businesses and family farmers. But we also want to look at the kind of across-the-board tax relief, the kind of tax relief that will encourage capital formation, to get this economy moving again," the Indiana Republican and potential presidential candidate added.
Of course, we're not exactly "extending" the Bush tax cuts. It's more accurate to say that we're going to inaugurate a new round of tax cuts following the mandated expiration of the previous tax cuts. Not that pointing out the distinction would mean much politically at this point, but in broad terms, the fact that we're talking about "extending the Bush tax cuts" and not "passing the Obama tax cuts" is a real political failure on the part of the Democrats. It's an amateur mistake that lets the GOP claim credit for whatever tax cuts come down the pipe next year.
-- Jamelle Bouie
