Fiscal Cliff

Politics
8:17 am
Thu January 10, 2013

Right-Wing Group Running Ads Against McConnell

Sen. Mitch McConnell

Kentucky's senior U.S. Senator finds himself the target of online ads run by a conservative group. The ads, bought by the group ForAmerica, criticize Republican Mitch McConnell for his role in the recent negotiations over the fiscal cliff.

Politico reports the ads read "Mitch McConnell: Whose side are you on?", along with a picture of McConnell wedged between President Obama and Vice President Joe Biden.

Last-minute negotiations between Biden and McConnell reportedly helped break the impasse between Democrats and Republicans as time was running out to get a deal in place before huge spending cuts and tax increases went into effect.

Politico previously reported McConnell viewed the recent fiscal cliff deal as a way for Republicans to gain future leverage against Democrats and the White House.

Politics
8:28 am
Wed January 2, 2013

Politico: McConnell Accepted Fiscal Cliff Deal in Order to Get Future Leverage

The "fiscal cliff" deal approved by the U.S. House and Senate over the weekend was crafted by two men on mostly opposite ends of the political spectrum: Kentucky Sen. Mitch McConnell and Vice President Joe Biden.

According to a report in Politico, McConnell decided to work with the White House on the deal  because Kentucky's senior Senator believed it would help the GOP gain future leverage in entitlement negotiations, and prevent President Obama from being able to castigate Republicans as the party that held tax cuts for the middle class hostage in behalf of the richest Americans.

Economy
11:06 am
Mon December 17, 2012

Report: McConnell, Senate Republicans Willing to Compromise on Higher Taxes

Sen. Mitch McConnell (R-KY)

Kentucky Senator Mitch McConnell is reportedly signaling that he and fellow GOP Senators are open to a strategy that would likely lead to the expiration of the Bush-era tax cuts for the nation’s highest earners. The website Politico is reporting McConnell talked about Senate Republican strategy late last week during a dinner in Washington with lobbyists.

Citing multiple sources in the room, Politico reporters say McConnell told those in attendance that Senate Republicans were looking to take a “two-bill strategy” to resolving the fiscal cliff crisis. Under such a plan, two different bills would be advanced in Congress, giving each party the chance to vote on the approach they favored, while knowing only one measure will actually be signed into law.

Poltico reports McConnell suggested he believed Senate Republicans could support a bill that renewed the Bush-era tax cuts for all but the top 2% of wage-earners, and increased taxes on capital gains and dividends from 15% to 20%. At the same time, the GOP-led House would pass a second bill that would extend the Bush tax cuts for all Americans. Such a move could possibly allow House Republicans to save face with supporters who are against raising any taxes.

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Politics
10:28 am
Sat December 8, 2012

McConnell: President Obama is Asking for Too Much in Fiscal Cliff Deal

U.S. Sen. Mitch McConnell said he hopes a deal can be hatched to avoid the fiscal cliff,  but that talks so far have not gone well.

McConnell said President Barack Obama is asking for a new stimulus package -- the unlimited ability to raise the debt ceiling and more than $1 trillion in new tax revenues.

And those proposals are not something Republicans want to concede, McConnell said.

Still, McConnell said he's hopeful a deal can be reached to avert the tax increases and large budget reductions scheduled to go into effect on Jan. 1.

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Fiscal Cliff Negotiations
10:38 am
Thu December 6, 2012

McConnell Says Debt Ceiling Increase Won't Pass

Credit aoc

As the rhetoric continues over the so-called “fiscal cliff", Senate Minority Leader Mitch McConnell says a permanent debt ceiling increase is “not going to happen.”

McConnell went to the Senate floor to argue against President Obama’s call for authority to permanently raise the debt limit. The Republican from Louisville says giving the President that authority would be a step in the wrong direction and could make it more difficult to reduce federal spending.

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