5th of December 2011 Author: Glo Wood
Is Reid about to introduce a new financial measure?
The introduction of an online poker legalization initiative by Nevada Senator Harry Reid, in cooperation with Senator Jon Kyl, seems to be closer than ever, especially having in mind the latest revelations learned in a Fox News interview in which Senator Kent Conrad revealed that the bill that is to be introduced by Sen. Reid will be extending tax cuts, whose costs would be covered by other [unspecified] revenue generating initiatives.
Will this unspecified revenue generator be online gambling?
According to Conrad, who serves as the Senate Budget Committee Chairman, “Majority Leader Reid called me yesterday and said he will propose tomorrow a compromise plan to extend the payroll tax cut. He will offer it at that point — I don't think it's probably in my purview to announce his plan — but he indicated to me it will be paid for. It will be paid for in a serious way.”
However, Republican Sen. Tom Coburn said that he is opposed to paying for a one-year tax cut "through measures that would span the next decade," and his statement could refer to the online poker legalization.
“The principle that you would in fact create a tax cut and then say you're going to pay for it over 10 years is exactly why we're bankrupt as a nation,” he added.
So far, no comment has arrived from Reid's office, and it is still eagerly anticipated.
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