White House: No Veto Will be Needed Over Bush Tax Cuts

The White House says it is confident Congress can find the votes this year to pass legislation extending the Bush tax cuts that does not include an extension of those cuts for the wealthiest Americans, something Republicans are calling for.

They are so confident, in fact, that White House Press Secretary Robert Gibbs said today there is no need for the president to consider vetoing any potential bill that would give in to the Republicans' preferences.

The Bush tax cuts are set to expire at the end of the year, and Mr. Obama has strongly urged Congress to extend them for all Americans, except for individuals making more than $200,000 or households making more than $250,000. Allowing the tax cuts to expire for the wealthiest 2 or 3 percent of Americans would save the country $700 billion, the president argues.

Read Full Article from CBS News

- Posted: 2010-09-09 22:04:41

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