In it, but not of it. TPM DC

Senate Republicans Coalesce Around Tax Cut Compromise

Olympia-snowe
Newscom

"I hope we could agree to a two-year extension of the current law," Sen. Susan Collins (R-ME) told reporters today.

Her Maine colleague Olympia Snowe said much the same.

But if the tax cuts for the rich are extended for two years, that will force Congress to address the issue again in 2012 -- another election year. Sen. Lindsey Graham (R-SC) has a solution: extend them all for three years!

"It gets us through the presidential election," Graham told TPM this afternoon.

It should be noted that before his recent admission that he might vote to let the tax cuts for the rich expire, House Minority Leader John Boehner had also proposed a two year extension of all the Bush tax cuts.

A debate over a temporary extension of all the cuts has been looming for some time. It has the support of several Senate Democrats and even some influential economists.