Obama to push for extension of middle-class tax cuts
President Barack Obama is launching a push to extend tax cuts for the middle class as he seeks to shift the election-year economic debate from the tight job market to assertions that Republican rival Mitt Romney protects the rich. Obama, in an address from the White House later today, will call on Congress to pass a one-year extension of tax cuts for households making less than $250,000 a year, says senior campaign adviser Robert Gibbs. The president's appeal to middle-class voters is aimed at drawing a contrast with Romney and congressional Republicans. The House GOP is expected to make its own push this month for an extension of all the Bush-era tax cuts due to expire at the end of the year, including reductions on wealthier income earners. Obama opposes extending the tax cuts for Americans with higher incomes, while Romney has said he supports extending the expiring cuts for all income earners. The Romney campaign had no immediate comment this morning on Obama's tax proposal. The Bush-era tax cuts will expire at year's end unless Congress votes to extend them. Economists worry that across-the-board tax increases, along with automatic spending cuts also scheduled to take hold at year's end, could adversely affect the shaky U.S. economy.
Today's poll question: Do you think the tax cuts for households making less than $250,000 a year, started under President George W. Bush, should be extended a year, as President Barack Obama is pushing for?
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