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Monday, July 9,2012

Obama Pushes Extension of Middle-Class Tax Cuts

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President Obama this week will renew his push to extend tax cuts for the middle class, a move that appears designed to shift the political conversation away from the lackluster jobs market and toward the larger question of tax fairness.

During a White House address set for later Monday, Obama will call on Congress to pass a one-year extension of Bush-era tax cuts for households making less than $250,000 a year, the Associated Press reports. That proposal puts him at odds with House Republicans who want a one-year extension for all of the Bush tax cuts, including those for Americans with higher incomes. (Obama's proposal could also draw some complaints from Democratic congressional leaders, who want the tax cuts extended for anyone earning up to $1 million.)


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