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.
The governors of Kentucky and Ohio have announced an agreement to work together to find the money to replace the outdated Brent Spence Bridge.
Ohio Gov. John Kasich and Kentucky Gov. Steve Beshear agreed Wednesday to create a bi-state management team that will investigate funding options to replace the nearly 50-year-old span. The heavily used bridge carries traffic between the two states over the Ohio River and is considered obsolete.
Preliminary estimates for replacing the bridge run more than $2 billion.
The discussions relating to the so-called "Fiscal Cliff" in Washington have included a number of proposals about ways to raise tax revenue. One suggestion that is drawing concern among some charities would reduce the tax deduction for wealthy Americans to donate money to charitable organizations.