I haven’t posted that much on the payroll tax cut. Why, you ask? ‘Cuz it was a no brainer. Everybody knew it was a no brainer. Everyone also knew that members of the GOP were going to try to extact as much as they could for this tax cut. The political calculus was clear to everyone for months. My only question was why did the Dems get so little? They, the Dems, should have pushed for a 12-month extension (not 2 month) of this tax cut.
Facing withering criticism from across the political spectrum and abandoned by Senate allies, House Republicans bowed to political reality Thursday and agreed to a two-month extension of a payroll tax cut for 160 million Americans.
The agreement represented a remarkable capitulation on the part of House Republicans, who had two days earlier rejected such a deal with Democrats as the kind of half-measure that their new majority was elected to thwart.
And it amounts to a Christmas gift for President Obama, who attempted to paint his Republican opponents as willing to raise taxes for millions of Americans. Such an image could have cost the party politically just as it is gearing up to try to take back the White House and the Senate in 2012.