“So far Mr. McConnell has corralled all 41 Republicans to commit to extend all of the 2001 and 2003 tax rates beyond their current expiration date of December 31. That includes Maine’s Olympia Snowe, who told reporters yesterday that “Where we start is to extend all the tax cuts. I think that’s important.” She added that she may entertain a tax increase on some people down the road, but not before a two-year extension because “to send any other message is going to have serious impact” on the tepid economic recovery.
“Meanwhile, the list of Senate Democrats in favor of an extension is now up to five. Evan Bayh (Indiana), Kent Conrad (North Dakota) and Ben Nelson (Warren Buffett) were already on board, and this week Connecticut Independent-Democrat Joe Lieberman and Virginia’s Jim Webb came around.”
Read more at the Wall Street Journal.