Tags: Obama | Tax-Cut | Deal | Days

Obama Sees Tax-Cut Deal 'Within Next Couple of Days'

Monday, 06 Dec 2010 01:41 PM

President Barack Obama is confident of a deal within days that would extend tax cuts for "middle class" families, the White House said on Monday.

"They are making progress," White House spokesman Bill Burton told reporters as Obama flew to North Carolina, where he was expected to discuss the economy and why it was important not to raise taxes on families making under $250,000 a year.

Negotiations between Republican and Democratic lawmakers and the White House continue this week to strike a compromise over extending Bush-era tax cuts set to end on Dec. 31 and to find more money for long-term jobless aid.

"The president is confident that, within the next couple of days or so, we will find a way to extend tax cuts for middle class families and do some other things that the president thinks are important in helping grow the economy and create jobs," Burton said.

Unemployment payments, which had already been extended by Congress for to up to 99 weeks from a traditional 26 weeks, expire this month for 2 million Americans whose benefits have now run out.

Democrats want the payments extended for another year, and also want to make tax cuts permanent for families who make less than $250,00 a year, or $200,000 for individuals.

Republicans argue tax cuts must be made permanent for everyone to avoid sapping spending while the economy is still weak. They also say Congress should have a plan to pay for the estimated $65 billion cost of extending jobless aid, in order to avoid adding to the country's high and rising debts.

Senior U.S. lawmakers said on Sunday they were optimistic about the prospect of a deal to extend the tax cuts and continue the emergency jobless aid.

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President Barack Obama is confident of a deal within days that would extend tax cuts for middle class families, the White House said on Monday. They are making progress, White House spokesman Bill Burton told reporters as Obama flew to North Carolina, where he was...
Obama,Tax-Cut,Deal,Days
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2010-41-06
Monday, 06 Dec 2010 01:41 PM
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