Senate Democratic leaders are politically paralyzed on how to proceed on the Bush-era tax rates.

With five months to go before the election, President Obama and key congressional Democrats remain at odds on whether the threshold for extending the George W. Bush-era rates for families should be $250,000 per year or $1 million annually. Obama backs the former while most Democratic leaders, including House Minority Leader Nancy Pelosi (Calif.) and Sen. Charles Schumer (N.Y.), support the higher threshold.

Continue reading →