The Homa Files

As Yogi would say, “It’s not over until it’s over”.

Why do I think that the proposed tax scheme (oops, I meant “compromise”) may offer a Christmas surprise.

OK, the Senate passed a bill with all of the compromise provisions included.

What if the lame duck, Dem-controlled House passes a variant that, say for the sake of illustration, resets the death tax to 55% with a relatively low exclusion (say, $1 million)?

Won’t happen, right?

The modified law will get blocked in the Senate, right?

Not so fast.

Remember the devious reconciliation play that was used to ram ObamaCare through? Allowed a modified bill to be passed by a simple majority of Senators (all Dems).

What if the House passes a slightly modified tax bill, and the Dem majority in the Senate decides that a simple majority reconciliation process is appropriate?

Bingo.  The GOP “wins” vanish from the bill.

Check ! and Mate !

Remember, it happened on ObamaCare … one of the biggest pieces if legislation in the country’s history …. which was opposed – then and now – by a majority of voters.

The difference this time? A bunch of lame-duckers will be punching in their votes.

Don’t put it past them.

This entry was posted on December 15, 2010 at 6:59 am and is filed under Taxes. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.