Colo. senators split on extending tax cuts

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Colorado’s senators have split on extending tax cuts, with Mark Udall voting “no” and Michael Bennet supporting them.

The Senate overwhelmingly backed the bill in a test vote Monday. The measure is expected to face a tougher time in the House, where Democrats oppose tax breaks for the wealthy.

Udall says he supports extending tax cuts for the middle class and continuing jobless benefits. But he objects to the two-year extension of tax breaks for the wealthy, which would cost an estimated $700 billion.

Udall says the cuts have been in place for about a decade, yet foreclosures and unemployment are high and average incomes are dropping.

Bennet says the bill isn’t perfect, but would ensure that middle-class Americans’ tax bills don’t increase in January.