Axelrod Says Obama Insists on Middle-Class Tax Cuts

[mike r]

Source: Bloomberg

President Barack Obama wants legislation from Congress that extends middle-income tax cuts and would reject Republican efforts to extend tax breaks for the wealthy, David Axelrod, a White House senior adviser, said.

“Our position is clear: We believe that we should get a clean bill that extends the middle-class tax cuts, and that’s it.” Axelrod said in an interview on Bloomberg Television. “I don’t think the president will support anything that doesn’t do that.”

He stopped short of saying the president would veto a bill that included keeping current rates for wealthier taxpayers.

The president will outline his stance in a speech this afternoon in Ohio. His insistence on letting the top tax rates expire at the end of this year sets up an election-year confrontation with Republicans, who are seeking to take control of the House and Senate with campaigns focused on the economy and the federal budget deficit.

Read more: http://www.bloomberg.com/news/2010-09-08/axelrod-says-obama-insists-on-middle-class-tax-cuts.html