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Maine Sen. Olympia Snowe put her power as the
swing vote on the Senate Finance Committee to
good use, forcing the panel to compromise on
efforts to extend large cuts in the tax rate on
dividends and capital gains. Republicans---
except for Snowe--- and Democrats were evenly
split on a measure that would have extended some
of the most egregious of President Bush's
earlier tax cuts. Snowe, a moderate who has been
spurned in her earlier efforts to increase
funding for heating assistance for people with
low incomes, held the fate of the legislation in
her hands. Without her support, the committee
was deadlocked. Instead of the partisan
divide, Snowe was able to force a plan with
bipartisan appeal. Maine's senior senator
faced intense pressure from her Republican
colleagues. She deserves enormous credit for
holding out and insisting upon an plan that is
more fiscally reasonable than the original
legislation, which would have cost $70 billion.
Even though the new plan still contains about
$60 billion in hurricane relief and tax cuts,
the bill faces an uncertain future when
negotiators from the House and Senate meet to
reconcile the differences between the two
chambers. With Congress moving toward painful
cuts that primarily affect the poor and middle
class, Snowe was able to hold the line of tax
cuts that overwhelmingly benefit the wealthy.
Following her lead, the Finance Committee was
able to find a compromise that offers a better
balance. Now, she'll have to stay vigilant to
ensure the progress she forced isn't undone.
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