The next few weeks in Congress will apparently focus on the Bush tax cuts, and whether any of them will be extended beyond the end of this year. President Obama wants them continued for middle-class taxpayers, but not for those with a taxable income above $250,000 a year.
Senate Republicans say they won’t go for a partial continuation of the cuts. However, that puts them in a potentially difficult political position, as Democrats would point to GOP members as causing tax increases for the middle class.
Monday morning on AirTalk, we talked with two Congressional reporters about this high-stakes game of chicken. Neither of them thought the outcome of the standoff was clear.
Let me know what you think. Do you side with Republicans and some Democrats who say taxes shouldn’t be allowed to go up in this economy? Do you think the cost of continuing the tax cuts for higher income Americans is too much for the federal budget to bear?