About five hours ago the Senate overwhelmingly approved a compromise bill by a huge bipartisan majority. The bill does not take us off of the fiscal cliff, it merely pushes it back a couple of months, as the sequestration clauses are only delayed for two months. However, some of the features are permanent. We will never again have to worry about the Alternative Minimum Tax creeping up on us as there has been a permanent fix for that. Unfortunately, milk subsidies were continued, which is about as clearly a government give-away program as there exists. Nevertheless, as with most compromises, there is something to like and something to hate for both sides. A compromise of this type is like a tie in a sports event. No one leaves happy, but no one has been defeated.
It is up to the House now. We shall see what they will do later today.
Leave a Reply