Obama pushing extension of middle-class tax cuts
WASHINGTON (AP) -- 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.
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.