With Bush-era cuts set to expire at year’s end, House Democrats plan to introduce legislation today to extend cuts for those making under 250-thousand dollars a year.
Republicans want all the tax cuts extended, including those for the wealthiest Americans. Many Democrats insist on keeping the lower rates for the middle class but not the wealthy. After a bipartisan meeting with congressional leaders this week, President Obama appointed a team to negotiate a possible compromise with Republicans on the tax cuts.
To learn more, KXNT Morning News spoke to CBS News Capitol Hill Correspondent Bob Fuss.