October 4, 2022

BREAKING: Republicans Don’t Like President Obama’s Tax Proposals

[K]ey Republicans have not responded positively to signals that President Obama will push for some tax increases in his deficit-reduction plan to be laid out this week. David Plouffe, a senior White House adviser, indicated Sunday that the president would reiterate his call to raise taxes on households making $250,000 and above and also signal a desire to look at other provisions in the tax code that wealthier taxpayers use to their advantage. In his fiscal 2012 budget, released in February, the president called for allowing the Bush tax cuts to expire for income above $200,000 for individuals and $250,000 for couples at the end of next year. That statement came roughly two months after a compromise with congressional Republicans had extended current tax rates for the richest taxpayers for two years. [The Hill]

[K]ey Republicans have not responded positively to signals that President Obama will push for some tax increases in his deficit-reduction plan to be laid out this week. David Plouffe, a senior White House adviser, indicated Sunday that the president would reiterate his call to raise taxes on households making $250,000 and above and also signal a desire to look at other provisions in the tax code that wealthier taxpayers use to their advantage. In his fiscal 2012 budget, released in February, the president called for allowing the Bush tax cuts to expire for income above $200,000 for individuals and $250,000 for couples at the end of next year. That statement came roughly two months after a compromise with congressional Republicans had extended current tax rates for the richest taxpayers for two years. [The Hill]

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