Obama, Hill leaders to meet: taxes, treaty on tap

November 30, 2010

WASHINGTON (AP) — The clock running, President Barack Obama and Republican and Democratic congressional leaders are sizing up each other as they struggle for common ground on taxes and nuclear arms before the end of the year.

The president and top congressional officials planned to meet Tuesday morning in the White House, the first such session since the midterm elections altered the political terrain and the government’s balance of power.

Of immediate consequence is the fate of expiring Bush-era tax rates and a U.S.-Russia treaty to reduce nuclear weapons arsenals.

Appearing in advance of the White House meeting on NBC’s “Today” show Tuesday, House Republican Whip Eric Cantor said Republicans are not inclined to back off their demand that Bush era tax cuts be preserved for all, including the wealthy.

Cantor said he believes one of the biggest hurdles to job creation is uncertainty in the business community over tax policy.

“We’re walking in this room with the realization we’re not going to agree with the president on everything,” he said, “but I do hope we leave this meeting with a resolve to address the economy.” Cantor said this is no time to raise tax rates for anyone, particularly at a time when the government is trying to jump start job-creation across the country.

Sen. John McCain, R-Ariz., asked if there were any chance of compromise on the tax question, replied, “We don’t want to raise anybody’s taxes.”

Obama’s meeting with House and Senate leaders from both parties — eight altogether — will help define the interaction between the White House and a divided Congress for the next two years.

Obama said Monday he hopes the meeting “will mark a first step toward a new and productive working relationship, because we now have a shared responsibility to deliver for the American people on the issues that define not only these times but our future.”

Despite their political gains, Republicans are approaching Tuesday’s session with some apprehension. Presidents typically gain a public relations advantage by inviting leaders of the opposition party to the White House.

To read more, visit: http://www.google.com/hostednews/ap/article/ALeqM5gblfEwZo6Ekabswgle1m1PWVBfZw?docId=ea23e46a5dd640f299b0ea73457d4cf3

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