November 28, 2012

THE 2% WILL PROBABLY BE ALRIGHT:

Tom Cole: Join with President Obama on quick deal (JONATHAN ALLEN, 11/27/12, Politico)

Republican Rep. Tom Cole urged colleagues in a private session Tuesday to vote to extend the Bush tax rates for all but the highest earners before the end of the year -- and to battle over the rest later. [...]

Cole's position is striking because he's hardly a "squish" -- Norquist's term for a weak-kneed lawmaker -- when it comes to Republican orthodoxy. Cole served as chairman of the National Republican Congressional Committee and in other official posts within the party.

He might also provide cover for other Republicans looking to make an agreement to avoid a sharp fall off the so-called fiscal cliff.

"I think we ought to take the 98 percent deal right now," he said of freezing income tax rates for all but the top 2 percent of earners. "It doesn't mean I agree with raising the top 2. I don't."

Instead, he told POLITICO, Republicans should fight the president over tax rates for the top earners after everyone else is taken care of.

The only question is what we'd get in return.

Posted by at November 28, 2012 6:37 PM
  
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