Top Democrat: We Can't Stop Obama's Tax Compromise

Minutes after House Democrats rejected the president's tax compromise, leading Democratic Rep. Barney Frank told Mother Jones reporter Suzy Khimm he thought the deal was going to pass, anyway:

"I still think it's going to go through--why do you think it isn't?" Frank said in a Thursday interview outside the caucus meeting. "I always knew a majority of Democrats would be against it. I still think they have the votes for it, yeah." He added that House Democrats simply lacked the ability to have a major impact on the legislation: "I think the notion that the caucus control legislation is not a good one."

Frank emphasized that he still opposed the tax-cut bargain but nevertheless thought a vote should be held on the tax package as it currently stands. Speaker Nancy Pelosi will have to decide herself whether to bring the legislation to a vote on the House floor--a decision that many House Dems at the caucus meeting suggested was up in the air. But Frank was convinced that Pelosi would bring the president's tax deal forward: "I think she will have to, yeah."

Read the full story at Mother Jones.

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Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.

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