Brent Budowsky, columnist for The Hill, joins the 2nd hour of Thursday's show to discuss the midterm elections and what the Democrats can do to stop the Republicans.
Comedian and frequent ED Show contributor Lizz Winstead joins the 2nd hour of Thursday's show to discuss the insanity of the GOP.
The Discovery Channel Hostage-taker, who was shot to death by police on Wednesday, said he did it because he hated the channel's programming. We'll bring you the latest.
House Democrats may break from Obama's tax pledge Posted on 7/28/2010
House Democrats may break from one of President Obama's campaign promises regarding the Bush tax cuts.
The tax breaks are set to expire at the end of the year.
Temporary Extentions Democrats in the House are looking at other options, including temporary extensions that would last more than a year.
House Majority Leader Steny Hoyer, D-MD, and Democrats have said they'll definitely extend the middle-class tax breaks through next year.
Rep. Hoyer said, "We ought to have no increase in taxes on middle-income working Americans."
Hoyer said, "Clearly, at a time of recession, we want to make sure that working people have the ability to support themselves."
Hoyer said Speaker Nancy Pelosi, D-CA, and other top Democrats in the House are still discussing what the best timeframe for the extension would be.
Obama pledged during the 2008 campaign to block tax increases on individuals making less than $200,000 and couples making less than $250,000, while allowing the tax breaks for upper-income earners to expire.
$130 Billion Cost The extension of the middle-class tax cuts would cost more than $130 billion annually.
That cost is already factored into the administration's budget projections, which reflect Obama's proposed policies.
Senators Meet Senate Finance Committee Chairman Max Baucus, D-MT, is crafting legislation that will extend the tax breaks.
Democrats on Baucus's Committe met Tuesday to discuss the tax bill.
Sen. Conrad Comments Sen. Kent Conrad, D-ND, said he would back either a temporary or a long-term extension of the middle-class tax breaks.
But Conrad said that more fundamental change to the tax code is needed than just shifting the current rates.
Sen. Conrad said, "We've got a tax system that was never designed for the world we live in today."
Conrad said, "We need a tax system that will help us be more competitive as a country, be more fair and efficient. This system failed us on all those accounts."
Sen. Wyden Comments Sen. Ron Wyden, D-OR, said he's open to a temporary extension that could set the stage for tax reform that would close loopholes and make the system simpler for individuals and companies.
