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Friday, December 17, 2010

Pres. Obama to sign HR-4853, House pass 277-148, 99ers plan candlelight vigil

United States President Barack Obama signs int...Image via Wikipedia
President Obama expected to sign
HR-4853 known as the "Obama Tax
Cut Bill' after the House passed the
measure 277-148 on 12/17
In the early morning hours of December 17th, the House of Representatives managed to push through HR-4853, known as 'Obama-GOP tax-cut deal' through the House by a vote of 277-148. 

The vote was largely passed along party lines, with a majority of Republicans and conservative Democrats in the House for in favor of the measure. 

Details of the bill include a cut in the estate tax for the wealthiest top 2 percent, extensions all the Bush tax cuts and reauthorizes an extensions of the filing dates only of unemployment insurance for 13 months. 

Now, the legislation heads to President Barack Obama desk for signature into law, which should be completed by later today.

President Obama pressured for House members to support for the tax-cut deal in the final days leading up to the vote. Various media reports stated that Obama told a number House Representatives that his re-election in 2012, was depended on HR-4853 passage.

With 'whipping of votes' by the President himself, along with the overwhelming support for the measure in the Senate by a vote of of 81 to 19, House members who wanted amendments to the bill foresaw the end result.

Congressman  Peter Welch (D-VT), who just a week ago circulated a letter signed by 54 Democrats urging opposition to the deal, now says the “die is cast.”

“It is academic, OK. The bottom line is that it is a fast moving train and that has become clear and Washington is doing what it is finding easy to do,” he said in an interview with The Hill.
“Once the president entered into that agreement with the Senate Republicans even while talks with the House were supposedly under way, that set the tone for the weekend and now you got Americans excited about a trillion dollars that is going to be in effect given away,” Welch said.
For an estimated 2 Million unemployed job seekers under are 73-99 weeks, whose benefits expired on November 30th, claimants will receive retroactive lump-sum payments within a few weeks, after the Christmas holiday. This allow state unemployment agencies time proper time to interpret to soon-to-be signed law and send out payments.  

Another group of 6 Million jobless workers, the '99ers' exhausted claimants who received between 73-99 weeks of benefits that ended April 2010, were completely left out of the legislation. 

The 'Flash Mobs for Jobs' advocacy group for the '99ers' are organizing a Candlelight Vigil Event to take place in front of city halls nationwide, five days before Christmas on December 20th. Interested parties are encouraged to RSVP attendance in advance.

What are your thoughts on this article? Are you encouraged that the U.S. economy will improve in 2011 by the passage of the Obama Tax Cut Bill? Feel free to comment on this story, below!
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