Deficits as Far as the Eye Can See

From Holden:

The Chimpster will praise this as an acheivment:

Suddenly, a tax package designed to extend a trio of popular middle-class tax cuts is being eyed as the legislative vehicle to extend a host of other expiring tax breaks from research credits for corporations to tax credits to promote economic development at ground zero in New York.

Overriding Democratic objections that further tax cuts should be offset to keep the ‘s deficit woes from worsening, Republican tax writers worked Wednesday to add business tax breaks to a package originally dealing only with middle-class taxpayers.


The bill would cost the Treasury $145.7 billion in lost revenue over a 10-year period, according to a preliminary committee estimate, with $131.5 billion of that covered by extending three tax cuts that are due to expire at the end of this year.