- Urged Congress to pass extension of tax cuts for the middle class
- President warned of a ‘Scrooge Christmas’ if taxes go up across the board
Barack Obama today continued to pile pressure on Congress to extend tax cuts for the middle class, saying a rates hike would be like getting a ‘lump of coal’ for Christmas.
In the first of a series of campaign-style speeches designed to sell his solution for the ‘fiscal cliff’, the President argued that Republicans should extend existing Bush-era tax rates for households earning $250,000 or less, while allowing increases to kick in for the wealthy.
However, Republican leader John Boehner described the state of negotiations as a ‘stalemate’ and criticised Obama for not making a serious offer on a deal.
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The President was touring a toy factory in the Philadelphia suburbs when he said the GOP and Democrats alike needed to ‘get out of our comfort zones’ to forge an agreement.
He urged the public to pressure their local members of Congress to pass the middle-class tax cut extension as quickly as possible.