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Obama seeks to end Bush tax cuts for those who make $250,000 and more

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The Republicans in the U.S. House will push to have all the tax cuts extended.

BARACK OBAMAView full sizePresident Barack Obama wants tax cuts extended for a year for Americans making less than $250,000 a year.
President Barack Obama is launching a push to extend tax cuts for the middle class, as he seeks to shift the election-year economic debate away from the dismal jobs market and toward the issue of tax fairness.

Obama, in an address today from the White House, called on Congress to pass a one-year extension of tax cuts for households making less than $250,000 a year, said senior campaign aide Robert Gibbs.

The president’s appeal to middle-class voters is aimed at drawing a contrast with Republican rival Mitt Romney and congressional Republicans. The House GOP is expected to make its own push this month for an extension of all the Bush-era tax cuts due to expire at the end of the year, including reductions on wealthier income earners. Obama opposes extending the tax cuts for higher income earners.

Obama’s re-election campaign also plans to use Washington’s tax debate to ramp up its criticism of Romney. The campaign and its Democratic allies have slammed the presumptive GOP nominee for not releasing several years of tax returns and for having some of his money in offshore bank accounts.


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