KEEP THE CUTS: President Barack Obama called on Congress Monday to extend tax cuts for only low and middle income earners while allowing taxes to increase for families that make more than $250,000 a year.
ONE MORE YEAR: Obama called for a one-year extension of the Bush-era tax cuts for households making less than $250,000. He said the outcome of his November election contest would then determine the fate of tax cuts for higher income earners.
DEADLINE: The full George W. Bush era tax cuts are due to expire at the end of the year unless Congress acts.
- Politics & Government
- President Barack Obama