By Kent Phelps, Attorney, Durfee & Phelps, PLLC
Our play-by-play updates on the estate tax drama created by the deal between President Obama and Republicans continue.
In a nutshell: the deal could lose Republican support if Harry Reid’s online gambling amendment is added; the deal could be killed by Senator Sanders’ threat of filibuster.
Harry Reid – As pay-back for the financial backing received from gambling interests during the second most expensive Senate race in history, Harry Reid is attempting to attach an amendment legalizing online gambling. Republican Senators, including Jon Kyl, have come right out and called the move immoral and unethical and there is “zero” chance of voting for a bill with such an amendment. Click here for more on Reid’s gamble. (Or is it a ploy to ensure a deal he certainly opposes does not pass due to lack of Republican support it would otherwise have?)
Bernard Sanders – The first self-described socialist elected to the U.S. Senate has promised to filibuster. Click here for an article in which Sanders office confirms explicitly the pledge to make good on the inferred threat he makes in the following video link. Video: http://www.youtube.com/watch?v=rAboE_ahSa4
The democrats in general are critical of the deal but it is still expected most will go along with it. Click here for a fairly thorough AP report giving a current update on democratic reaction to the proposal and consequences of the deal passing or not passing. The comments of White House Advisor David Axelrod about the impact on the lives of Americans if the deal does not pass are especially interesting.