This may have been the Senate’s version of a squirrels-on-water-skis video.
Majority Leader Harry Reid tossed in the names of a few reality-TV celebrities when making a point on the Senate floor about the wealthy paying taxes.
“Congressional Republicans want to lavish huge across the board tax breaks on billionaire hedge fund managers and people like mega-rich celebrities like Donald Trump,” said Reid. “In fact, fabulously rich so-called small business owners like Kim Kardashian and Paris Hilton could qualify for these wasteful giveaways.”
How’s this relevant? The Senate’s getting ready to vote on cloture on the motion to proceed to a Reid-sponsored small-business tax-break bill, S. 2237. The bill is the Democrats’ answer to a House-passed Republican bill, H.R. 9.
The Democrats have proposed a $26 billion tax cut plan for companies that make capital investments and expand their payrolls. The Republican bill, sponsored in the House by Majority Leader Eric Cantor of Virginia, would provide up to a 20 percent tax deduction to businesses with fewer than 500 employees.
Positions seem firm on both sides, so look for considerable debate if cloture’s invoked and the Senate spends the rest of the week on that bill.
From Bloomberg Government’s Congress Tracker