It Sounds Like Democrats Are Close On A Tax Deal, And It Involves Another Major Sellout

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Photo: ap

According to the AP, a deal is close on the Bush tax cuts.In exchange for supporting the deal, Democrats will get some tax breaks for ethanol, hybrid cars, and other energy-related items.

Of course, ethanol is the big winner here. It always is.

We still doubt it’s done, done, and we wouldn’t be surprised to see the right mount a new challenge here. For one thing, the energy stuff wasn’t part of the original deal, and beyond that there are many on the Tea Party right who opposite it.

Meanwhile, US futures are indicated a bit higher right now, with several (several) hours to go until the opening bell on Friday.

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