Fiscal Fortitude Award to ... Charlie Rangel

Extremely honorable mention to ... Warren Buffett Per yesterday's blog about the fiscal fortitudinal challenge facing Congress, there is one person standing above the fray of the feckless: House Ways and Means Committee Chair Charles Rangel (D-NY). Asked if he intended to withdraw his carried interest provision as an AMT patch pay-for in the face of mixed signals from the Senate, he declared, ""Hell no, forget about it." The House is set to take up the AMT patch/tax extenders bill Friday. Senate Republicans say when the House bill arrives, they will filibuster a higher tax on carried interest of private equity and hedge fund managers. Rangel seems almost to relish the prospect of a patched battle with the Senate. Senate Democratic leaders publicly argue they want to pay for the AMT patch, but privately say they can do little because they don't have the 60 votes needed out of 100 to end a GOP filibuster. Rangel's reply: "So let the filibuster begin," speaking today before the U.S. Chamber of Commerce. Extremely honorable mention to Warren Buffett, who spoke truth to fellow fund managers on NBC News.
back to Blog