White House Veto Threat Shelves Possible Tax Plan

By ANDREW TAYLOR, Associated Press, San Francisco Chronicle: Politics
Wed, 11/26/2014 - 1:45am

Speculation on Capitol Hill on Tuesday focused on a potential agreement to permanently enact tax breaks on business investments in new equipment and research and development as part of a plan that would renew dozens of expired tax breaks for businesses and individuals both. The White House immediately weighed in with a veto threat, saying Congress should also make permanent a top Obama administration priority: extending more generous tax credits for the working poor and people with children. "The president would veto the proposed deal because it would provide permanent tax breaks to help well-connected corporations while neglecting working families," deputy White House press secretary Jennifer Friedman said. In trade-offs that angered the administration but gave political wins to top Senate Democrats, the emerging pact would also have made permanent tax breaks for college tuition, parking and transit subsidies, and a deduction for state and local sales taxes.

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White House Veto Threat Shelves Possible Tax Plan

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