"Bud" ... "Get" ... "Bud" ... "Get" ... "Bud" ... "Get" ... "Wiser"

The Senate passed a budget-busting tax cut, but the fireworks aren't over. House and Senate passed very different packages, and it falls to a conference committee to resolve the differences. The resulting package must then pass both houses

The Senate package includes $20 billion in aid to states. (Senators are elected statewide). The House include none. (House GOP leaders think the Several States are wastrels, drunkards and problem gamblers.)

The Senate used $90B in tax increases to hold the incremental debt increase to $350B. House went straight for $550B in new debt increases. (Read my lips: no new um, er, "revenue enhancements".)

Both packages are gimmicked to the hilt, mostly with tax cutting provisions that expire in the out-years ... though actually letting them expire would require acts of outstanding political courage.

Nelson (DINO, NE) sold his vote for the state aids ... not necessarily a bad bargain. Voinovich apparently caved ... though the revenue enhancements and sunset provisions give him a choice of fig leaves. And it fell to VP Dick Cheney to cast the hearttie-breaking vote on dividend exclusions (from which he will profit handsomely).

Leadership -- and I use the term advisedly -- wants the whole deal wrapped up by Memorial Day. Should be an interesting gut check all around.

Debbie: Come on Duke let's go do those crimes.
Duke: Yeah. Yeah. Let's go get Sushi and, and not pay.

RonK, Seattle

Posted May 16, 2003 07:49 AM | Comments (41)