Dodd: I’ll Vote Yes

On the heels of a Democratic congressional revolt, outgoing U.S. Sen. Chris Dodd said Monday morning that he will likely vote for the president’s compromise with Republicans on extending Bush-era tax cuts.

“I’m probably going to vote for it this afternoon,” Dodd said during a Monday appearance in New Haven at an unrelated event. He said he is still unhappy with the deal, but he thinks it’s better than what Democrats might face in January, when they lose their House majority to incoming Republicans.

The compromise deal would extend all the Bush tax cuts for two more years in exchange for measures meant to stimulate the economy, like continuing unemployment benefits for the long-term unemployed and cutting payroll taxes.

That deal, struck last week between President Obama and congressional Republicans, immediately faced stiff opposition from Democrats who had sought to end the tax cuts on the top 2 percent of income-earners.

U.S. Sen. Dodd was among those who initially found the compromise hard to swallow. Last week, he told the Valley Independent that he was unsure how he would vote.

But on Monday, like many of his colleagues, Dodd had come around. After saying he would vote for the deal, Dodd said he wishes he had another choice.

“The reality is what it is,” he said.

Come Jan. 5, the congress will look a lot different, he said. That’s when a new crop of Republican legislators take their seats in the House and Senate, displacing many Democrats. It will be even harder for Democrats to find a satisfactory deal then, Dodd said. ​“It’ll be a lot worse.”

The worst part of the compromise, Dodd said, concerns inheritance tax cuts, including an estate tax exemption for the wealthiest Americans. ​“If I could strike one thing” in the bill, ​“that’d be it,” Dodd said.

Dodd named a number of bills and issues he’d like to see succeed before he leaves office, or be addressed by his replacement, incoming U.S. Sen. Dick Blumenthal. On the list: ratification of the START treaty, repealing Don’t Ask Don’t Tell, passing a paycheck equity bill, and allowing collective bargaining by first responders.

In his retirement, Dodd said what he’d really like to do is join the Peace Corps, but with two young daughters to support, it just doesn’t pay enough, he said.