In an effort to undermine GOP opposition to letting the Bush tax cuts lapse at the end of this year, President Obama today called for the tax cuts to be extended, but only for families with incomes under $250,000.
Republicans have steadfastly argued that, with the economy apparently moribund, raising taxes on any income group by letting the cuts expire is a bad idea, Reuters noted.
The White House’s latest move puts pressure on the GOP to defend its position against charges it is protecting the wealthy at the expense of the middle class. It also provides a new distraction from last week’s extremely disappointing jobs data for June, a topic the administration would like to avoid. Read