Today's Highlights
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Senate Votes Down Extension to Bush-Era Tax Cuts
Today
The Senate earlier today failed to advance two Democratic proposals to extend the Bush-era tax cuts when they expire at the end of the year. The first proposal, by Finance Committee Chairman Sen. Max Baucus (D-MT) was voted down 53 to 36, failing to achieve the necessary 60 votes required to cut off a filibuster. The Baucus amendment would have permanently extended current tax rates on incomes up to $200,000 for individuals and $250,000 for married couples, along with a host of other extensions of current tax breaks.Read More »
The second proposal, offered by Sen. Chuck Schumer (D-NY) also was blocked from advancing on a vote of 53 to 37, again failing to reach the required threshold of 60 votes. The Schumer amendment would have extended the current tax rates to all income levels for all taxpayers earning up to $1 million.
Meanwhile, a small group of lawmakers from the House and Senate are continuing their negotiations off the floor to see if they can reach some kind of compromise on extending the Bush-era tax cuts.
Following the vote, President Obama and leading Democratic Senators gave separate press conferences in reaction to the failed votes. President Obama said he was "very disappointed" in the Senate's verdict.
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Debt Commission wraps Up, lacks Votes on deficit reduction Plan
Today
The National Commission on Fiscal Responsibility and Reform ended their final meeting on Friday without the votes needed to pass a package of recommendations to cut the deficit and reign in federal spending.
The Presidential debt commission charged with finding bi-partisan solutions to erase the United States' $13.8 trillion budget deficit lacked the necessary votes to move the plan onto Congress. 11 of the 18 commission members supported to proposal but still fell short of the required 14 votes.
In a report called “The Moment of Truth,” the plan acts in cutting $4 trillion from the national debt before 2020 by placing a cap on discretionary spending. The main feature of the plan is to eliminate expenditures, known as “tax earmarks,” in the tax code.
The main concerns discussed during this week’s meetings included raising the Social Security retirement age, along with dramatic cuts in military spending, cuts to Medicare and curtailment of tax breaks.
President Obama created the National Commission on Fiscal Responsibility and Reform in February.
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Former President Carter Shares Highlights from his Presidency
Today
Former President Jimmy Carter discusses his newly released book, "White House Diary," which chronicles his time in office, on Book TV’s After Words. He was interviewed by presidential historian Douglas Brinkley. During the interview, Carter provides insights into the political battles he fought and weighs in on the challenges facing government today.
President Carter served as the thirty-ninth President of the United States from 1977-1981 and is the founder of the Carter Center, a nonpartisan organization that focuses on peace and human rights issues. He also leads the Jimmy Carter Work Project for Habitat for Humanity International. Mr. Carter is the author of more than 10 books, including "Living Faith," "A Government as Good as Its People," and "An Hour Before Daylight: Memoirs of a Rural Boyhood."
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Recent Programs
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President Obama spoke about a new free-trade agreement reached between the U.S. and South Korea. He says it will create 70,000 American jobs and increase exports by 11 billion dollars. The deal requires congressional approval. He also commented on the Senate session in which Republicans blocked two procedural votes to advance legislation to extend the Bush-Era tax cuts that expire at the end of the year.
Washington, DC
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 President Obama
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House Minority Leader John Boehner (R-OH) criticized Democrats for holding a vote on permanently extending only the Bush-era tax cuts for the middle class. When asked, Mr. Boehner refused to rule out the possibility of supporting an extension of unemployment benefits if it were tied to extending all the Bush tax cuts. During this briefing we also hear about Republican ideas for changing the rules of the House.
Washington, DC
: 14 min.
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Rep. Boehner Briefing
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Senators Mike Crapo (R-ID) and Tom Coburn (R-OK) made remarks on Capitol Hill about the national debt. They announced they will vote in favor of the plan released by the National Commission on Fiscal Responsibility and Reform. They are both members of the Commission. A vote on the plan is supposed to happen Friday, December 3.
Washington, DC
: 24 min.
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Sens. Coburn & Crapo
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The Senate Commerce Committee held a hearing on so-called mini health insurance policies. These policies pay for basic medical expenses, but also include strict spending caps. Once those caps are reached, patients must pay for medical expenses out-of-pocket. Witnesses at this hearing include the Chief Human Resources Officer of McDonald’s, which offers its employees mini insurance policies.
Washington, DC
: 1 hr. 56 min.
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Hearing on Mini-Policies
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Former Secretary of State Colin Powell urged the Senate to ratify the new START treaty which would scale down U.S. and Russian nuclear arsenals. Those comments came after an Oval Office meeting with President Obama. The President began by praising Mr. Powell’s work on education issues.
Washington, DC
: 11 min.
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Pres. Obama & Fmr. Sec. of State Powell
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White House Press Secretary Robert Gibbs conducted a daily briefing at the White House. He said he believes Congress has enough time to take up the START treaty, the DREAM Act and other issues despite Senate Republicans' threats to block all action on everything except tax policy and the federal budget.
Washington, DC
: 42 min.
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White House Briefing
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This Week on C-SPAN
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Q&A: John F. Burns, New York Times London Bureau Chief
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