Boehner backs tax cuts limited to middle class - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Boehner backs tax cuts limited to middle class

Posted: Updated:

WASHINGTON (AP) — House Republican leader John Boehner says he would support extending tax cuts only for middle-class earners even though he considers it "bad policy" to exclude the highest-earning Americans from tax relief during a recession.

President Barack Obama's top economic adviser said Sunday he is happy that Boehner, R-Ohio, isn't willing to hold hostage an extension of tax cuts for those earning under $250,000 a year, or more than 97 percent of earners, to try to gain a continuation of breaks enjoyed by the wealthiest.

The argument between Obama and Republican lawmakers focuses on whether the debt-ridden country can afford to continue President George W. Bush's tax breaks, which are designed to expire next year. Republicans argue that cutting back on government spending ought to be the focus of efforts aimed at beginning to balance the federal budget.

"I want to do something for all Americans who pay taxes," Boehner said in an interview taped Saturday for "Face the Nation" on CBS. "If the only option I have is to vote for some of those tax reductions, I'll vote for it. ... If that's what we can get done, but I think that's bad policy. I don't think that's going to help our economy."

Austan Goolsbee, the new chairman of the White House Council of Economic Advisers, said on ABC's "This Week" that he hopes that Democratic lawmakers who also want an across-the-board extension will join Obama and others in the party in supporting legislation aimed at the middle class before the November elections.

In response to Boehner's comments, Goolsbee said, "If he's for that, I would be happy."

At a White House news conference Friday, Obama described the Republican proposal for a tax extension for the highest of earners as an effort "to give an average of $100,000 to millionaires." Instead, he said, both parties should move forward on their areas of agreement.

 

Copyright 2010 The Associated Press.

Powered by Frankly
All content © Copyright 2000 - 2017 Midwest Television, Inc. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.