Obama Pushes Extension Of Middle-Class Tax Cuts [VIDEO]
President Barack Obama is arguing that the expiration of middle-class tax cuts would be a “big blow” to working families and serve as a “drag on the economy.”
Obama said at the White House he wants Congress to extend tax cuts for middle class families earning under $250,000 for one year, saying that it would provide certainty to the economy.
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Obama said the November election could determine the fate of tax cuts for higher-earning Americans. He says his Republican rival, Mitt Romney, “will fight to keep them in place. I will fight to end them.”
Obama’s appeal to middle-class voters aims to draw a contrast with Romney and congressional Republicans. The House is expected to push for an extension of all the Bush-era tax cuts due to expire at the end of the year, including the cuts for wealthier Americans.
The Romney campaign says Obama’s plan to let the tax cut expire for higher earning Americans amounts to a “massive tax increase.”
President Barack Obama is launching a push to extend tax cuts for the middle class, starting with an address from the White House on Monday.
(Copyright 2012 by The Associated Press. All Rights Reserved.)