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July 10th, 2012
05:54 AM ET

Battle lines drawn on Bush-era tax cuts – Paul Steinhauser on the politics of taxes

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.

A Romney campaign official criticized Obama's announcement as more bad policy from the president in the wake of the latest disappointing jobs report.

This morning on "Early Start," Paul Steinhauser looks at the increasing political rhetoric around extending the Bush-era tax cuts, and how the tax cut discussion could be part of an Obama campaign tactic to emphasize Mitt Romney's wealth.

FULL STORY


Filed under: Politics • Tax cuts
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