July 9th, 2012
03:29 PM ET

Obama renews call for holding down middle class tax rates

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Washington (CNN) – President Barack Obama revitalized his push for holding down middle class tax rates Monday, calling on Congress to pass a one-year extension of the Bush-era tax cuts for people earning less than $250,000 a year.

In a White House statement delivered while people described as working Americans stood behind him, Obama said his proposal would provide the certainty of no tax increase next year for 98% of Americans.

Noting that Republicans seek to maintain all of the Bush tax cuts enacted in 2001 and 2003, Obama said both sides therefore agree on extending the lower rates for middle class families.

"Let's agree to do what we agree on, right?" Obama said to laughter and applause in the East Room. "That's what compromise is all about."

Facing a tough re-election fight in November against Republican challenger Mitt Romney, the Obama campaign seeks to frame the contest as a debate between the president's goal of restoring middle class opportunity versus GOP policies that it says would primarily benefit corporations and wealthy Americans.

FULL STORY


Topics: 2012 Election • President Obama • Tax cuts
Obama to call for Bush tax cut extensions for those making $250,000 or less
July 9th, 2012
08:25 AM ET

Obama to call for Bush tax cut extensions for those making $250,000 or less

WHITE HOUSE (CNN) - President Barack Obama is expected to call on Congress to pass a one-year extension on the Bush-era tax cuts for people earning less than $250,000 a year.

A White House official said Obama will make the announcement Monday at the Rose Garden, surrounded by working people.

In addition, a campaign official said the campaign will "amplify the president's message on middle-class tax cuts" by hosting a series of events in battleground states all week across the country.

In Las Vegas, for example, local elected officials will discuss Obama's efforts to fight for the middle class, the campaign official said. In Colorado, Aspen Mayor Mick Ireland, Colorado Democratic Party Chair Rick Palacio and state Sen. Gail Schwartz will hold a press conference to discuss the contrasting economic visions of Obama and presumptive GOP presidential nominee Mitt Romney.

On Sunday, a top adviser for Obama's re-election campaign said the president was entirely dedicated to ending the so-called Bush tax cuts for the wealthy at the end of this year.

"He is 100% committed to it," Robert Gibbs said on CNN's "State of the Union."

For the full story, click here.

 


Topics: President Obama • Tax cuts • The News
POTUS's schedule for Monday, July 9: Tax cuts
July 9th, 2012
08:15 AM ET

POTUS's schedule for Monday, July 9: Tax cuts

The White House announced this morning that President Obama will be in the East Room late this morning to announce his call for a one-year extension of the Bush-era tax cuts for those making under $250,000. President Obama has talked about these cuts many times on the campaign trail and will continue to take his message on the road this week. But we'll hear his announcement this morning at 11:50a. The rest of the day will be behind closed doors while he gives interviews with local television anchors from key battleground states and then holds two closed campaign fundraising events this afternoon in DC.

For the full schedule released by the White House, click below. FULL POST


Topics: Daily Schedule • Fundraising • Tax cuts
Obama to call for Bush tax cut extensions for those making less than $250K
July 9th, 2012
04:25 AM ET

Obama to call for Bush tax cut extensions for those making less than $250K

Washington (CNN) – President Barack Obama is expected to call on Congress to pass a one-year extension on the Bush-era tax cuts for people earning less than $250,000 a year.

A White House official said Obama will make the announcement Monday at the Rose Garden, surrounded by working people.

In addition, a campaign official said the campaign will "amplify the president's message on middle-class tax cuts" by hosting a series of events in battleground states all week across the country.

FULL STORY

Topics: Congress • President Obama • Tax cuts