WASHINGTON (WAVE) - Democrats in the U.S. Senate failed to get enough votes to extend the Bush- era tax cuts to Americans making less than a million dollars a year.
In an unusual Saturday session, 53 senators voted for the tax cuts for middle income Americans. But Democrats needed 60 votes to pass their version of the plan. One proposal would have extended the tax breaks for families making less than $250,000 a year. The other would have raised the limit to $!-million.
Republicans want to make the tax cuts permanent for all Americans, regardless of income.
Following the vote, President Barack Obama said he was "very disappointed" in the outcome of the votes.
Democratic Senator Dianne Feinstein, of California, said "There are no signs that millionaires are suffering in this economy."
Senate Minority Leader Mitch McConnell, of Kentucky, told reporters after the vote that both parties will now negotiate a new bill which he believes will extend the tax cuts to everyone, but may not be made permanent.
He also accused Democrats of playing games with the issue. "I would like to remind my friends on the other side of the aisle that the election was about a month ago. We are past the spinning stage. The American people would actually like us to do the things that need to be done."
McConnell went on to say, "I find it a little tiresome that everybody keeps talking about tax cuts. The tax cut decisions were made a decade ago. We're not giving people anything they don't already have. This is really a debate about tax increases; about whether it's a good idea to raises taxes on anybody in the middle of a recession."