Despite President Obama’s scolding of the Left during his press conference this afternoon, House Speaker Nancy Pelosi is refusing to back his compromise on the Bush tax cuts.
“We believe the estate tax in the bill is a bridge too far,” Pelosi told reporters this afternoon, according to The Hill. The estate tax in the deal would start with estates at $5 million or larger and would tax them at a 35 percent rate.
Pelosi also indicated that House Democrats had “some unease” about the overall compromise. “We are listening to what our caucus has to say, but so far, the response has not been very good,” she said, adding that the GOP measures in the plan had no job creation and increased the deficit.
The House Democrat caucus is scheduled to meet tonight to discuss the matter.