Reid says Senate Republicans holding Bush-era tax rates 'hostage'

Senate Majority Leader Harry Reid (D-Nev.) accused Senate Republicans of holding hostage an extension of Bush-era tax rates for Americans making less than $250,000.

Reid's criticism comes as the Democrats and Republicans in the chamber struggle to reach a deal over voting on competing proposals for extending some or all of the Bush-era tax rates. President Obama has called for extending the rates for Americans making less than $250,000 a year, while Republicans want to extend all the rates for another year.

On Wednesday Reid tried to set up a vote on the competing proposals, but Senate Minority Leader Mitch McConnell (R-Ky.) objected to his unanimous consent request, saying that Republicans would not allow a vote to be set up until Obama's proposal was presented to them in paper form.

"This is no crush for small businesses. It seems to me that they can, the top 2 percent, can do a little more to get this deficit under control," Reid said Thursday. "Yet Republicans are prepared to block tax cuts for 98 percent of families unless Democrats are prepared to give more giveaways for the richest of the rich. As Republicans continue to argue the wealthiest 2 percent can't contribute even a little more, I urge them to talk to the three-quarters of Americans who disagree."

Reid said Americans are waiting to see what Republicans will do on extending some or all of the tax rates.

"So I urge my Republican friends to talk to a few of the more than 135 million taxpayers who are waiting to see whether Republicans are waiting to continue holding hostage their tax cuts," Reid said.

---