***. UPDATE *** Big trouble for tax bill
Tuesday, Nov 29, 2011
* If you’re watching the live blog, you know that the “CME bill” passed the Senate with 36 votes, but has maybe 5 House Republicans prepared to vote for it. So, unless the House Demorats can carry this on their own it’s not gonna pass. The bill is being debated in the House as I write this, so stay tuned.
*** UPDATE *** The bill received just 8 votes. 99 voted against.
* By the way, the House has control of the budget bill, so the Senate has to wait for the Housr to take action, which may not happen until the House decides to do something about the CME bill situation, if anything.
* 5:18 pm - Democratic leaders are meeting in Leader Cross’ office to find out what he wants.
* 5:48 pm - The revamped House CME bill will reportedly use a mechanism to more accurately figure out what percentage of CME’s income should be taxed. Also, lower EITC.
* 6:25 pm - If… If the House can resolve CME soon then they might return tomorrow. Senate might then return next month.
* 7:04 pm - House has adjourned to the call of the chair.