All sides strive for a deal on tax cuts

by
December 3, 2010

By Matt Viser, The Boston Globe

WASHINGTON — House Democrats yesterday approved an extension to the Bush tax cuts for families earning less than $250,000, a measure almost certain to be rejected in the Senate. But negotiators worked behind the scenes on an eventual compromise that could extend the cuts to top earners as a way to win Republican support.

A deal on the income tax cuts, which expire this month, could emerge in the next week from thesmall group of negotiators — Treasury Secretary Timothy Geithner, White House budget director Jacob Lew, and four lawmakers from each party.

Under consideration is a plan to link a temporary extension of the tax cuts for all Americans with proposals to boost the economy now, such as extending a series of expiring tuition and other tax breaks along with extended benefits for the long-term unemployed.

“I believe it will get resolved,’’ President Obama said. “That doesn’t mean there might not be some posturing over the next several days.’’

To read more, visit: http://www.boston.com/news/nation/washington/articles/2010/12/03/all_sides_strive_for_a_deal_on_tax_cuts/

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