December 10th, 2010
10:27 AM ET

Obama still confident tax compromise will pass

From CNN's Political Unit

(CNN) – Despite major pushback from members of his own party, President Obama remains confident that his deal with congressional Republicans to extend Bush-era tax cuts for all Americans and unemployment benefits for the long term unemployed will succeed.

"Here's what I'm confident about: that nobody – Democrat or Republican – wants to see people's paychecks smaller on January 1 because Congress didn't act," Obama said in an interview that aired Friday with National Public Radio. "And I think that the framework that we've put forward, which says not only that people's taxes don't go up on January 1 but also that we extend unemployment insurance for a year, that we make sure that key provisions like the college tax credit, the child tax credit, the earned-income tax credit are included – that that framework is going to serve as the basis for compromise."


Topics: President Obama • Tax cuts • The News

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