Tax cuts were subject of Obama's Saturday radio address, where he urged GOP to extend Bush-era tax cuts for all but the wealthy. Republican Sen. Hatch blasted Democrats for trying to raise taxes on businesses. In this photo from Tuesday, President...
President Barack Obama on Saturday blamed Republicans for a standoff that could have Americans paying higher taxes in 2013, while a SenateRepublican blasted Democrats for looking to raise taxes on businesses when the economy is struggling. In his weekly radio and online address, Obama urged the Republican-controlled House of Representatives to extend Bush-era tax cuts for households earning $250,000 or under while letting tax reductions for wealthier Americans lapse. The Democratic-controlled Senate narrowly passed a version of the proposal this past week, but the Republican House was expected to reject it.
"Instead of doing what's right for middle-class families and small-business owners, Republicans in Congress are holding these tax cuts hostage until we extend tax cuts for the wealthiest Americans," the president said.
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