Obama to determine whether to extend the Bush era tax cuts or not
December 7th, 2010 - 12:51 am ICT by Aishwarya BhattWashington DC, Dec 6 (THAINDIAN NEWS) With threat from the revitalized Republicans to block any bill that will be brought before the Senate, the Obama administration currently has no choice but to listen to the views of the Republicans to determine whether to extend the Bush-ear tax cuts after it expires.
The Republicans have threatened to stall any bill that will be brought before the House and that means that the Democrats have to engage the Republicans in a dialogue to determine if a compromise can be reached. Though there were signs that the House was close to reaching a deal on the tax cuts, there were some details that was still not agreed on. Democrats want to ensure that the tax brackets are lowered from the $250,000 bracket while the Republicans want it maintained.
With the Democrats using the tax breaks as an issue during the 2008 election, it is now time to swallow back some words and ensure that they go back on the words “No bailouts for the rich”. The Republicans argue that if the Bush-era tax cuts are not extended, it could be interpreted to mean increase in taxes for Americans.
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- Obama draws battle lines with $4 trillion deficit reduction plan (Lead) - Apr 14, 2011
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- House Republican leader open to Obama tax cut proposal - Sep 13, 2010
- Republicans cave in, hand Obama big victory - Dec 23, 2011
- No holiday break for Obama, Senate without tax-cut extension - Dec 08, 2011
- White House threatens veto as Republican House defies Obama - Dec 14, 2011
- US Congress extends tax cut, jobless benefits - Feb 18, 2012
- John Boehner's Views On Tax Cuts Clash With White House Statements - Sep 13, 2010
- John Boehner expects "whale of a fight" with Obama, his Democratic allies over taxes - Nov 05, 2010
- US Congress clears tax cut deal to hand Obama a big win - Dec 17, 2010
- Americans face tax hike amid Congressional impasse - Dec 21, 2011
Tags: bush, compromise, democrats, dialogue, republicans, senate, signs, tax brackets, tax cuts, washington dc
