To the surprise of no one, most Republican Senators voted for the deal, which raises taxes by $620 billion and does virtually nothing to reduce federal spending:
Colleague Ed Henry says CBO indicates #fiscalcliff bill has $620 billion in new tax hikes. $15 billion in spending cuts.
— Chad Pergram (@ChadPergram) January 1, 2013
The bill (misleadingly titled the “American Taxpayer Relief Act”) passed 89 to 8. According to Dan Spencer at Red State:
The bill raises income tax rates for those taxpayers with incomes more than $400,000 for individuals and $450,000 for couples from 35 percent to 39.6 percent. These higher income taxpayers will also pay higher rates on investment income, with rates on dividends and capital gains rising from 15 percent to 20 percent. Add the 3.8 percent ObamaCare surcharge on investment income — another tax that takes effect in January, and the top rate on investment income would rise to 23.8 percent for those high-income households.
The bill also raises taxes on couples earning more than $250,000 a year and single people earning more than $200,000 by limiting personal exemptions and itemized deductions.
Estates taxes will also be increased, with the top rate raised to 40 percent, with the first $5 million in value exempted for individual estates and $10 million for family estates.
The House of Representatives is scheduled to vote on the bill later today.
Here’s Sen. John Cornyn (R-Texas) explaining his “Aye” vote:
I voted for this bill because it prevents a huge tax increase on 99% of all Texans and Americans. Nonetheless, I am dismayed at the lack of seriousness by the president on dealing with the core issues of our fiscal problems. Our spending is unsustainable and it is high time the president and his party engage in meaningful dialogue to get this county’s spending under control.
Conservative tweeters were dismayed, too:
https://twitter.com/BarbofPA/status/286083303092670465
@JohnCornyn I wish you would have voted no. This is not compromise. It's appeasement
— Charlie Hodges (@CharlieHodges) January 1, 2013
@JohnCornyn RINO
— John Modisett (@thebighoot) January 1, 2013
@JohnCornyn You (Congress) have to stop spending. Now you have once again not done anything to stop spending. Don't raise the debt limit.
— Fred Bingham (@Ontly) January 1, 2013
@JohnCornyn shame on you!
— Mike Morton (@Cuppy1) January 1, 2013
@JohnCornyn @etcpolitics $620 billion in tax increases to $15 billion in spending cuts (as reported) is NOT compromise. The problem remains.
— Verum Quaerere (@VerumQuaerere) January 1, 2013
@JohnCornyn Until you actually try to stop the spending, your criticism of the dems rings hollow. You caved & we get to pay for it. RINO
— Roger Freeman (@JRoger777) January 1, 2013
@JohnCornyn bullshit john. u guys only have leverage ev yr or 2, so then you promptly bend over n grab ur ankles. ur just another gop wuss
— president bigly (@JohnAlan6) January 1, 2013
https://twitter.com/MzRebecca06/status/286026160545095680
@JohnCornyn: I voted to prevent tax increase // Sir, you don't negotiate w/terrorist—POTUS/Dems = spoiled brats—stand firm for what's right!
— Matthew Nelson (@matthewaynelson) January 1, 2013
@2LiveinLiberty @johncornyn You caved – am done with you and your kind…!!!
— Anne M. (@Basenjimomma) January 1, 2013
@JohnCornyn This advances progressives at the expense of conservative principles & hurts the country costing more jobs! Sad for America.
— rebob7 (@rebob7) January 1, 2013
I can't wait to help campaign against @johncornyn voted with 0bama to "save" us. Bullshit
— Jeff in Texas (@Oc1013) January 1, 2013
https://twitter.com/gary4205/status/286018577667076096
@JohnCornyn you lost my vote when you come up for election. Thanks for standing up for your convictions you damn rhino!
— Samuel Dobbs (@samtdobbs) January 1, 2013
@JohnCornyn Obama smoked you guys again. You're disappointed?? How do you think WE feel?
— David Wohl (@DavidWohl) January 1, 2013
https://twitter.com/SCRUB58/status/286017412732698624
.@JohnCornyn bullshit! Can't wait to vote for anyone but you. You caved to big interest just like we knew you would!
— Jeff in Texas (@Oc1013) January 1, 2013
@JohnCornyn YOU VOTED FOR $ 1 IN SPENDING CUTS FOR $ 41 IN TAX INCREASES . DOESN'T SOUND LIKE WHAT WE SENT YOU THERE FOR.
— MORRIS TURNER (@morris_turner) January 1, 2013
@JohnCornyn Tonight you voted for big tax hikes, lent credence to Dem claim we can afford big gov't if we just eat the rich. Weak.
— Sunny McSunnyface (@sunnyright) January 1, 2013
@JohnCornyn you should not have voted for it. That was wrong
— Jim Polk ?? (@JimPolk) January 1, 2013
@JohnCornyn You voted for the bill b/c you chickened out. Raises taxes on the unpopular ppl to maintain illusion that big govt is affordable
— Sunny McSunnyface (@sunnyright) January 1, 2013
@JohnCornyn Why not just vote present and allow the left to own this nasty deal?
— Laura Wood (@ScarlettsGone) January 1, 2013
Other Senate Republicans who supported the bill came under fire, too.
@SenDanCoats just voted to raise taxes on working class folks – payroll tax goes up 2% today.
— Progressive GOP (@NixonandIke) January 1, 2013
@kaybaileyhutch thank for keeping up the tradition of voting the constitution and Texas and USA down the river. Good bye, sweet retirement.
— Jeffrey Tew (@jatew) January 1, 2013
@kaybaileyhutch You sold out Texas! No spending cuts for a pay raise? pic.twitter.com/LZe4A5AR
— Eric Phillips (@_12th_man) January 1, 2013
https://twitter.com/SoGlib/status/286016304970862593
https://twitter.com/JasonGalvan/status/286013611887964160
You are a complete idiot for voting for.a tax hike. @lisamurkowski
— reaganbetter (@reaganbetter) January 1, 2013
.@RoyBlunt @BarbofPA SO, you voted yes to raise taxes with no spending cuts and another year with no budget. And you are proud of this?
— Putin’s Puppet ⭐️⭐️⭐️ (@Dagny_Galt) January 1, 2013
https://twitter.com/BarbofPA/status/286083828873830400
https://twitter.com/mju1983/status/286014554566172672
https://twitter.com/JoeRussoIII/status/286007418951962624
Only five Republican Senators (Rand Paul, Mike Lee, Richard Shelby, Marco Rubio, and Charles Grassley) voted no.
At least some did not sell out Mike Lee, R-Utah; Rand Paul,R-Ky;
Richard Shelby, R-AL; Chuck Grassley,R-Iowa; and Marco Rubio, R-Fla— Yogi Bear (@Yogi_Bear_61) January 1, 2013
https://twitter.com/RichSalvato/status/286083084074512385
@marcorubio Thank you for standing up for Republicans and not voting for tax hikes. It's a spending problem–a big spending problem! Thanks!
— Tori Hart ⭐️⭐️⭐️ (@ToriHart4) January 1, 2013
https://twitter.com/votegun/status/286058071019638784
@ChuckGrassley proud of you for voting no. Stand strong for fiscal issues! God Bless!
— Garrod Sieveking (@dragon8569) January 1, 2013
https://twitter.com/sarahcgoldstein/status/286074044636348416
https://twitter.com/itsBroGreen/status/286067000709627904
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