Biden explains top targets for 2012
December 19th, 2010
12:20 PM ET
12 years ago

Biden explains top targets for 2012

WASHINGTON (CNN) - Vice President Joe Biden revealed Sunday that tax cuts and the estate tax for those with higher incomes will be the administration's top priorities in 2012.

Biden played an essential role in negotiating the tax compromise recently passed through Congress that included a two-year extension of the Bush-era tax cuts for all income levels, a revival of the estate tax at a lower level, and the continuation of unemployment benefits for an additional 13 months. He said Democrats scaled back what they wanted to reach the compromise, but predicted that won't happen the next time around.

"The one target for us in two years is no longer extending the upper income tax credit for millionaires and billionaires," Biden said Sunday on NBC's "Meet the Press."

He said the administration will be able to facilitate a vote against extending the cuts in 2012 because, by then, the deficit commission findings will be digested, enabling them to make their case "much more clearly."

Still, he said he did the best he could to garner support for the tax plan proposed by Democrats, which included only extending tax cuts for those making $250,000 a year or less.

"We did go to the mat," Biden said. "I went into a total of 130 races out there, campaigning for Democrats. … We got to the end, we couldn't get it done, and we had to make a decision."

Biden also indicated that President Obama would not make a blanket decision on congressional spending measures that contain earmarks - provisions that direct approved funds to a specific project. Instead, he said the president would make a judgment call based on the legislation.

"Are we going to veto a bill that would jeopardize troop safety? Probably not," Biden said. "Conversely, if there's a bunch of earmarks in a bill that we think is funding for several agencies that we're willing to fight over and it can take a chance on losing on, yeah, we'll veto."

Earmarks were a sticking point in a spending bill that was recently abandoned in the Senate. Senate Majority Leader Harry Reid, D-Nevada, removed the bill from consideration after Republicans pulled their support for the pork-laden bill that included funding for military operations in Iraq and Afghanistan.

Filed under: 2012 • Joe Biden • Taxes
soundoff (14 Responses)
  1. Clyde

    Biden is so full of crap. This administration will do nothing to anger big money or big business. Neither Obama nor Biden have any conviction or character beyond being re-elected.

    December 19, 2010 12:26 pm at 12:26 pm |
  2. tcaros

    Obama needs to drop Biden in 2012. He helped in 2008, because he represented the experience factor, but now the American people know more about Biden. He's basically a screw ball who says whatever flows through that jelly bean head of his.

    December 19, 2010 01:00 pm at 1:00 pm |
  3. Ronnie Hernandez

    I really hope Mr. Obama and Biden get re-elected. They work for the hard working class, the single moms, and everyone else who needs help the most in this country. They work hard every day and it shows.....

    December 19, 2010 01:13 pm at 1:13 pm |
  4. vic nashville tn

    “I went into a total of 130 races out there, campaigning for Democrats. … We got to the end, we couldn't get it done, and we had to make a decision."

    He doesn’t have any clue actually democratic base didn’t go to the poll because this administration dragged every thing

    New study show FOX viewers are more misinformed about American political issues than any other channel.

    This administration didn’t fight back so base didn’t go to the poll

    December 19, 2010 01:33 pm at 1:33 pm |
  5. Jane

    Joe Biden + one term vice president. Zero term president

    December 19, 2010 01:35 pm at 1:35 pm |
  6. Four and The Door

    It will be interesting to see what the political advisors tell Biden what to say when the unemployment rate comes down after having passed the extended tax cuts. I'll just guess that he will continue the demonizing of those $250,000 a year billionaires. It will play so much better with the millions of voters in their liberal left base.

    December 19, 2010 01:37 pm at 1:37 pm |
  7. Careful Thought

    Are "we" going to veto? I didn't know the vice president had veto power.

    December 19, 2010 01:43 pm at 1:43 pm |
  8. Shawn

    2010 USA reality: the income gap is growing. The rich are getting richer while the rest of us aren't.

    December 19, 2010 01:55 pm at 1:55 pm |
  9. Truthseeker

    Biden was in the Senate for how many decades before becoming VP? I think any potential naysayers on this comment wall should save your extreme criticism. You have no idea what it takes to pass a bill. He does.

    I have a feeling that many of the naysayers, i.e. those Obama/Biden supporters who have reacted in a knee-jerk fashion over the last 2 years, will probably find that they're eating a bit of crow for the next 2. Let us be patient and wait for the proverbial dust to settle, shall we?

    December 19, 2010 02:23 pm at 2:23 pm |
  10. Name king

    I agree with Biden they tried to get the votes to lower taxes for the
    Middle class and the repugs killed it, they had one option, wait until repug congressional talibans take over in January or raise taxes on every body which kill demand when the country needs it most, atleast they've got another crack at it, if these rich folks refuse to take all those trillions of dollars off the sidelines and start investing it back into the economy.

    December 19, 2010 02:27 pm at 2:27 pm |
  11. Chewy

    Top targets for 2012? Will someone explain to Biden that 2011 comes first, then we can think about 2012. There's much more to America's survival than an election year! This is why no one on either side of the aisle ever gets anything of value done in Washington. Democrats put something forward and the Republicans block it. The Republicans put something forward and the Democrats block it. Add to that the worst leadership in the White House since Carter or arguably ever, and America loses more every day. Tell you what Joe, sit down with your boss and let him know that we need to get through 2011 before stumping for 2012 and maybe he can enlighten the brain trust of Pelosi, Reid, Holder, and maybe even Barney Frank too. Cheez! Get a new calendar boys!

    December 19, 2010 02:45 pm at 2:45 pm |
  12. Henry Miller, Libertarian

    Biden is proving, once again, that one of the Democrats' principal objectives is punishing success and rewarding indolence, improvidence, and irresponsibility.

    December 19, 2010 03:06 pm at 3:06 pm |
  13. Nate

    What a crock. We're going to be complete ineffective until the election year and then at the last moment, we're going to act like we're doing something in the hopes that you'll vote us back in.

    December 19, 2010 03:17 pm at 3:17 pm |
  14. Terry P

    If they want campaign contributions, they need big money from big money people. Taxing them will drive away contributions.

    December 19, 2010 03:32 pm at 3:32 pm |