{"id":8111,"date":"2011-07-04T16:04:31","date_gmt":"2011-07-04T20:04:31","guid":{"rendered":"https:\/\/flsentinel.com\/?p=8111"},"modified":"2011-07-01T14:54:23","modified_gmt":"2011-07-01T18:54:23","slug":"gop-blew-up-debt-negotiations-to-protect-tax-breaks-for-people-making-500000-or-more","status":"publish","type":"post","link":"https:\/\/flsentinel.com\/?p=8111","title":{"rendered":"GOP Blew Up Debt Negotiations To  Protect Tax Breaks For People Making  $500,000 Or More"},"content":{"rendered":"<p>The House <strong>Majority Leader Eric Cantor<\/strong> (R-VA) and <strong>Sen. Jon Kyl<\/strong> (R-AZ) may well have doomed negotiations to raise the nation\u2019s debt limit when they walked out over a dispute with<\/p>\n<p>Democrats about raising revenues. Their theatrics bring the country closer to the brink of financial collapse, and observers have described the move as a \u201ctamper tantrum\u201d and \u201cpolitical grandstanding.\u201d More details emerged about exactly what Republicans are willing to threaten the global economy over to defend.<\/p>\n<p><strong>Rep. Chris Van Hollen<\/strong> (D-MD), a member of the bipartisan debt discussion group led by <strong>Vice President Joe Biden<\/strong>, said Republicans chose to \u201cprotect taxpayer subsidies for big oil companies, tax breaks for corporate jets, and tax breaks for millionaires\u201d:<\/p>\n<p>Democrats want to close tax loopholes that benefit oil companies, and eliminate a tax preference that gives corporate aircraft a friendlier depreciation schedule than commercial aircraft. Additionally, <strong>Van Hollen<\/strong> said, Democrats were proposing to phase out tax deductions and certain credits for people making more than $500,000 a year. These would be paired with a reduction in the tax burden on lower earners, by eliminating existing limitations on their deductions. [&#8230;]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The House Majority Leader Eric Cantor (R-VA) and Sen. Jon Kyl (R-AZ) may well have doomed negotiations to raise the nation\u2019s debt limit when they walked out over a dispute with Democrats about raising revenues. Their theatrics bring the country closer to the brink of financial collapse, and observers have described the move as a [&hellip;]<\/p>\n","protected":false},"author":210,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":"","footnotes":""},"categories":[23],"tags":[],"class_list":["post-8111","post","type-post","status-publish","format-standard","hentry","category-national-news","pmpro-has-access"],"_links":{"self":[{"href":"https:\/\/flsentinel.com\/index.php?rest_route=\/wp\/v2\/posts\/8111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flsentinel.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flsentinel.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flsentinel.com\/index.php?rest_route=\/wp\/v2\/users\/210"}],"replies":[{"embeddable":true,"href":"https:\/\/flsentinel.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8111"}],"version-history":[{"count":0,"href":"https:\/\/flsentinel.com\/index.php?rest_route=\/wp\/v2\/posts\/8111\/revisions"}],"wp:attachment":[{"href":"https:\/\/flsentinel.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flsentinel.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flsentinel.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}