Obama to push extension of middle-class tax cuts
Updated: 07/09/2012 11:04 AM
By: Associated Press
WASHINGTON (AP) -- Mitt Romney isn't waiting to hear President Barack Obama latest pitch to extend tax cuts for the middle class.
The Republican presidential candidate's campaign is blasting it already, saying it will amount to a "massive tax increase.''
Obama plans to call on Congress to pass a one-year extension of Bush-era tax cuts for households making less than $250,000 a year. The tax cuts are due to expire at the end of the year for everyone. The president opposes extending the tax cuts for Americans with higher incomes, while Romney has said he supports extending the expiring cuts for all income earners.
Obama campaign adviser Robert Gibbs says the move will help the economy grow "from the middle class out.'' But, Gibbs tells NBC that "millionaires and billionaires'' don't need a tax cut.
Romney spokeswoman Andrea Saul says the plan shows "the president doesn't have a clue how to get America working again.''
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