Pelosi pushes Obama on repeal of tax breaks

January 19th, 2009 - 6:09 pm ICT by ANI  

Barack Obama

Washington, Jan.19 (ANI): House of Representatives Speaker Nancy Pelosi is pushing incoming US President Barack Obama to repeal tax breaks for high earners and to investigate possible wrongdoing in the Bush administration.
The California Democrat, who appeared on “Fox News Sunday,” said she supports repealing President Bush’’s tax cuts on workers who make more than 250,000 dollars well before they expire at the end of 2010.
Obama had promised to repeal the tax cuts during his presidential campaign, but since then, backed off that pledge, signaling he would be willing to simply let them expire.
“I don”t want them to wait two years to expire. We had campaigned in saying what the Republican Congressional Budget Office told us: Nothing contributed more to the budget deficit than the tax cuts for the wealthiest people in America,” the Washington Times quoted Pelosi as telling Fox News.
Meanwhile, plans for a 825 billion dollar stimulus package submitted Thursday by House Democrats - and backed Obama - include 550 billion dollars in spending measures and 275 billion dollars in tax cuts.
The Obama presidential transition team has suggested that repealing the Bush tax cuts would not be an immediate priority.
“Our overall focus is going to be on increasing spending,” Lawrence H. Summers, Mr. Obama’’s pick for director of the National Economic Council, said Sunday on CBS” “Face the Nation.”
Pelosi also told Fox News that she would like to launch investigations into the Bush administration’’s handling of the anti-terrorism program and whether the Bush administration broke any laws when it fired a group of federal prosecutors.
Obama has said he is unlikely to authorize broad inquiries into Bush administration programs.
“We”re still evaluating how we”re going to approach the whole issue of interrogations, detentions and so forth,” the president-elect told the ABC News program “This Week.” On January 11. (ANI)

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