The American Jobs and Closing Tax Loopholes Act of 2010 (also referred to as HR 4213) may need to be renamed the American Jobs and Closing Tax Loopholes Act of 2011. More than six months after its introduction, the bill is still sitting in Congress with just about a month and a half to go before the summer recess. The bill is expensive and unpopular, two descriptive words that many in Congress don’t want to hear a few months before a key election.
Yesterday, a Democratic attempt to push the bill through failed. A test vote didn’t garner enough votes to give leaders confidence in the measure so it’s back to the proverbial drawing board. This may actually sit well with Sen. Harry Reid (D-NV) who needed an “out” for several provisions in the bill that his colleagues wanted but were holding up passage of the bill.
Today, the Senate is going to vote on the Republican alternative to the bill. You and I both know (as do they) that it’s not going to pass either.
Apparently, once they have two failed versions of the bill, Congress may try to work something out.
Hey guys, it’s called compromise. Look it up.
