Obama would reject bill extending tax cuts for wealthy: aide

Reuters News
|
Posted: Jul 09, 2012 1:41 PM
Obama would reject bill extending tax cuts for wealthy: aide

WASHINGTON (Reuters) - President Barack Obama would not sign any congressional legislation that extends Bush-era tax cuts to wealthier Americans, the White House said on Monday.

"He would not support it. He would not sign that bill," White House spokesman Jay Carney told reporters when asked whether Obama would veto any bill passed by the Republican-controlled House of Representatives that keeps tax cuts in place across-the-board for all income levels.

Carney spoke after Obama called for a one-year extension of the Bush-era cuts for families earning less than $250,000 a year, seeking to put Republicans on the defensive and reinforce his re-election campaign mantra of being a middle-class champion.

Obama wants to let tax cuts enacted by Republican President George W. Bush, his predecessor, expire on January 1 for higher income earners.

(Reporting By Matt Spetalnick)