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President Obama, who campaigned on repealing the breaks for the wealthy, angered his base last year when he agreed to extend all the tax cuts beyond their original expiration, at the end of 2010.
This time, the president has vowed to veto any effort to extend the tax breaks on upper-income Americans.
The Bush tax cuts — and, with them, the fate of the nation’s precarious finances — will in all likelihood be punted beyond next November’s election.
That makes December 2012 the next critical deadline in the budget wars, with Obama, safely reelected or acting as a lame-duck president, wielding a veto pen with the power to return tax rates to Clinton-era levels...
http://www.washingtonpost.com/polit...gN_story.html?wprss&google_editors_picks=true
This time, the president has vowed to veto any effort to extend the tax breaks on upper-income Americans.
The Bush tax cuts — and, with them, the fate of the nation’s precarious finances — will in all likelihood be punted beyond next November’s election.
That makes December 2012 the next critical deadline in the budget wars, with Obama, safely reelected or acting as a lame-duck president, wielding a veto pen with the power to return tax rates to Clinton-era levels...
http://www.washingtonpost.com/polit...gN_story.html?wprss&google_editors_picks=true