Fiscal Cliff Legislation Passes House, but Sandy Aid Vote Deemed a "Bad Deal" for New Yorkers

Strategic Insights -

President Barack Obama's call for a grand bargain fell short, with the House passing the Senate's fiscal cliff legislation in a last-minute vote. Eighty-five Republicans crossed the aisle, but the bill's provisions failed to meet the expectations of many Democrats, who criticized the measure for not doing enough to address the nation's fiscal woes. Representative Steve Israel (D-NY) joined CNN's "Starting Point" to discuss the bill, which extended tax cuts for those earning up to $450,000, a significant increase from the original proposal of $250,000.

Key Takeaways:

  • The House passed the Senate's fiscal cliff bill by a vote of 85-27-166, with 85 Republicans crossing the aisle to support the measure.
  • The bill extended tax cuts for individuals earning up to $450,000, a compromise from the original proposal of $250,000.
  • Representative Steve Israel (D-NY) voted in favor of the bill, but expressed disappointment at the lack of more significant deficit reduction.
  • The bill's passage has been deemed a "bad deal" by some Democrats, including Senator Tom Harkin (D-IA), who criticized the measure for not favoring the middle class.
  • House Republicans blocked a vote on a $60 billion aid package for Hurricane Sandy victims, sparking outrage among lawmakers from New York and New Jersey.
  • Congressman Steve Israel condemned the decision, calling it "indefensible" and "absolutely unacceptable."
  • The House now faces several upcoming votes on the debt ceiling, sequestration, and government funding, which have raised concerns about the president's negotiating position.

Statistics:

  • 85 Republicans voted in favor of the fiscal cliff bill
  • 27 Democrats voted against the bill
  • 166 Republicans and Democrats did not vote
  • $654 billion in revenue was secured through the bill
  • $640 billion of the revenue came from tax increases
  • $14 billion of the revenue came from other sources

Sources:

  • CNN's "Starting Point" interview with Representative Steve Israel (D-NY) on January 2, 2013
  • Federal News Service transcript of the interview (c) 2013 by Federal News Service, Inc.