Tax showdown puts Bill Nelson in tough spot
UPDATE 5:15 p.m.: The Democratic plan passed 51-48, with Nelson in favor. Republican Sen. Marco Rubio opposed. The Republican plan failed and the two Florida lawmakers were on opposite sides.
Nelson's rival Connie Mack quickly issued a news release: “Thanks to Bill Nelson and President Obama, businesses and job creators across Florida have been shackled by ObamaCare, a failed stimulus, other tax increases, and countless other new laws and regulations that continue to hurt the economy and the people. Today, the LockStep Liberals have done it again, injecting more uncertainty in our economy."
The Senate this afternoon will vote on competing tax plans, and that's putting the squeeze on Florida's Bill Nelson.
A Republican plan extending the Bush-era tax cuts for everyone will be voted on as well as a Democratic proposal letting them expire for earnings over $250,000. President Obama wants the latter and Democrats have agreed to push in that direction. But Nelson, facing a tough re-election, has said the cap should be $1 million.
So what does he do?
"Bill’s favored position is to keep the Bush-era tax cuts for those making up to a $1 million," spokesman Dan McLaughlin said. "There will be a vote today on income up to $250,000. Given that choice, instead of the $1 million, he’ll likely support it."