Tax Cuts | featured news

President Barack Obama would veto legislation that extends all of the Bush administration's tax cuts, including those for the middle class, White House Press Secretary Jay Carney said Monday. But top Republican aides said they don't buy it.

President Obama told Americans on Monday he wants Congress to extend tax cuts for the country's middle class while letting them rise on high income earners. As he attempts to turn voters' attention from the stagnant unemployment numbers — now standing at 8.2% — and limp economic recovery, Obama spoke at the White House as he made an opening campaign pitch for continuing middle class tax relief.

President Barack Obama continues to oppose extending Bush-era tax cuts for wealthier Americans, the White House said on Wednesday, shrugging off calls from some Democrats for a temporary extension to make more time for a deal on deficits.

The White House is threatening to veto an effort by House Republicans to cut taxes for millions of smaller businesses, calling it an unproductive giveaway to many of the country's most profitable companies.

A long-running war between Democrats and Republicans over Bush-era tax cuts doomed the debt supercommittee's chances of reaching a deal. Efforts to overhaul the tax code may await the same fate as both parties gear up to make taxes a central issue in 2012 elections....

President Obama this evening rolls out a plan to inject $447 billion into the ailing economy through tax cuts aimed at working families and small businesses and spending to rebuild infrastructure, proposing a larger cash infusion than expected – and, perhaps, more than Congress will seriously consider.

President Barack Obama pressed his case on Saturday for achieving deficit reduction, in part by ending tax breaks and singling out hedge fund managers, oil companies and billionaires to take the hit.

Regardless of any tax concessions President Obama achieves, the end result would favor Republican goals of cutting spending and government services. Even as the political battle mounts over federal spending, the end result for federal policy is already visible — and clearly favors Republican goals of deep spending cuts and drastically fewer government services.

President Barack Obama pressed his case Wednesday that tax cuts for the wealthiest Americans must be ended as part of a deficit deal, which he said he believed Republicans and Democrats would reach.

Vice President Joe Biden said Saturday the Obama administration wouldn't let middle class Americans "carry the whole burden" to break a deadlock over the national debt limit, warning that the Republican approach would only benefit ...