Geithner Sees Tax-Cut Deal This Year .

U.S. Treasury Secretary Timothy Geithner said Tuesday it was "quite likely" the White House and Congress would reach a deal to address the expiring Bush-era tax cuts by the end of the year, adding it was vital to prevent pressure on the economy when the administration is trying to sustain the recovery.

"It's not rocket science," Mr. Geithner said at The Wall Street Journal's CEO Council in Washington, adding that "It should not be a complicated problem to solve."

In explaining the administration's negotiating position, Mr. Geithner said the White House wanted to see a permanent extension of the Bush-era tax cuts for the middle class. He said the administration "would not favor" extending tax cuts for wealthier earners and "would be very much against" a permanent extension for high-income individuals.

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- Posted: 2010-11-16 09:20:58

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