Good news: Obama’s Revenue Plans Hit Resistance in Congress

From The New York Times:

President Obama is running into stiff Congressional resistance to his plans to raise money for his ambitious agenda, and the resulting hole in the budget is threatening a major health care overhaul and other policy initiatives.

The administration’s central revenue proposal — limiting the value of affluent Americans’ itemized deductions, including the one for charitable giving — fell flat in Congress, leaving the White House, at least for now, without $318 billion that it wants to set aside to help cover uninsured Americans. At the same time, lawmakers of both parties have warned against moving too quickly on a plan to auction carbon emission permits to produce more than $600 billion.

[This part is good:]

The difficulty in winning support for tax changes in isolation has also convinced the administration that a broader rewriting of tax laws is the best approach, perhaps as soon as next year.

“All roads in the future lead to tax reform,” said Rahm Emanuel, the White House chief of staff.