Just over the wires.   The Senate has blocked Obama’s plan to let Bush-era tax cuts expire for those making $250,000 or more.    More when available.

Update:  Via The Progressive News Channel (aka MSNBC):

“WASHINGTON — Senate Republicans have blocked legislation allowing taxes to rise on upper income taxpayers on Jan. 1.
The vote Saturday was 53-36 — seven short of the 60 needed to advance the measure.

Without action by Congress, all income tax cuts enacted when George W. Bush was president will expire at year’s end. The legislation backed by Senate Democrats would have kept the cuts in effect except on incomes over $200,000 for individuals and $250,000 for couples.

The Senate vote is expected to clear the way for negotiations between the White House and Republicans to resume on a bill to extend the tax cuts at all levels.”

Huge victory for the GOP. Obama has no choice now than to give extend the tax breaks to all or none or face the wrath of voters as their taxes go up on January 1st. Way to stand tall GOP!