The Hill News

The tax-cut deal recently passed by Congress and signed into law by President Obama extended the Bush-era tax cut for only two years, or until 2012.  It is no coincidence that the new expiration date falls around the next presidential election.  The two-year extension was by design and crucial to President Obama’s willingness to compromise with the Republicans.  It’s his victory token to be cashed in two years.
 
For the GOP, the extension timeline may well turn out to represent a compromise it should have avoided at all cost. It is a trap that may cost the party dearly with their chances to reclaim the White House in two years.

Read more...