Obama Pushing to Extend Tax Cuts for Middle Class
President Obama will launch a push for extending middle class tax cuts, as he attempts to shift the debate for this election away from the jobs reports that was lower than expected last Friday. Obama wants to put the focus on the issue of fairness in taxes.
Obama will give an address on Monday from the White House and will call for Congress to pass an extension of one year of the tax cuts for all U.S. households earning less than $250,000 annually.
The president hopes to appeal to the voters from the middle class by drawing a contrast with his Republican presidential opponent Mitt Romney and other Republican lawmakers. The House, led by the GOP, is expected to push later this month to have an extension of the tax cuts from the Bush-era that will expire at year end. Those tax cuts benefit wealthier income earners. Obama is opposed to extending those Bush-era takes cuts geared to those earning high incomes.
Obama’ campaign for reelection is hoping to use the tax debate in Washington to increase its criticism of the former Governor of Massachusetts, Romney. Obama’s Democratic allies and campaign have slammed Romney for not releasing a number of his tax returns and for keeping some of his money in bank accounts in offshore banks.
The strategy aims to portray Romney as disconnected from members of the middle-class, as his personal wealth is thought to exceed $250 million. Obama will promote his tax breaks at a number of events during the week, in tough battleground states such as Colorado, Nevada and New Hampshire.