Tags: timothy | Geithner | Deficits | obama | bush | tax | cuts

Geithner: Obama Taking Steps to Shrink Deficit

Sunday, 18 Apr 2010 08:48 AM

Treasury Secretary Timothy Geithner (GYT'-nur) says President Barack Obama is taking steps to reduce the nation's red ink.

Geithner tells NBC's "Meet the Press" that the president will extend middle-class tax cuts, but will not renew tax cuts that President George W. Bush put in place for the wealthiest Americans. The treasury secretary says that will provide about a trillion dollars in deficit reduction over the next 10 years.

He also says Obama has proposed a number of other measures to help close tax loopholes, such as overhauling the tax treatment of international companies and imposing fees on banks to cover bailout costs.

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Treasury Secretary Timothy Geithner (GYT'-nur) says President Barack Obama is taking steps to reduce the nation's red ink.Geithner tells NBC's Meet the Press that the president will extend middle-class tax cuts, but will not renew tax cuts that President George W. Bush...
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2010-48-18
Sunday, 18 Apr 2010 08:48 AM
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