OBAMA TO VETO TAX CUT FOR RICH

TALK RADIO NEWS SERVICE

WASHINGTON - White House Press Secretary Jay Carney affirmed Friday that President Obama will veto congressional attempts to extend the Bush era tax cuts for Americans earning over $250,000.

“If a bill were to reach his desk … he will not sign it,” Carney said during a briefing. “This president hasn’t been hiding the ball on this. He’s spoken about this every day [during the campaign].”

The status of the Bush era tax cuts comes into focus amid the looming fiscal cliff, in which numerous tax deductions will expire and sequestration cuts are set to go into place. Obama and congressional Democrats have previously called for the cuts for the wealthy to expire, but Republicans have balked, claiming that the expiration would be tantamount to a tax increase.

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Posted by on Nov 9 2012. Filed under Breaking News, Economy/Business/Labor, US. You can follow any responses to this entry through the RSS 2.0. Responses are currently closed, but you can trackback from your own site.

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