Inside these posts: Tax cuts

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Fight brewing over expiring tax cuts

The Obama administration will allow tax cuts for the wealthiest Americans to expire on schedule, Treasury Secretary Timothy Geithner said Thursday, setting up a clash with Republicans and a small but vocal group of Democrats who want to delay the looming tax increases.

Geithner said the White House would allow taxes on top earners to increase in 2011 as part of an effort to bring down the U.S. budget deficit. He said the White House plans to extend expiring tax cuts for middle- and lower-income Americans, and expects to undertake a broader revision of the tax code next year. Get the full story »

Bush-era tax cuts likely on fall agenda for Congress

A congressional debate about extending Bush-era tax cuts for middle class American families will probably happen later this year, the White House said  Monday.

White House spokesman Robert Gibbs said the debate would probably happen in the fall, before the conclusions of a fiscal commission appointed by President Barack Obama  on the U.S. deficit challenge, which is due by year-end.