News Column

Obama Willing to Assure Most Tax Cuts

Nov. 9, 2012
president obama

President Barack Obama said Friday that US voters expect common sense and consensus as the country's leaders head into negotiations on a looming fiscal crisis.

He has invited leaders of both his own left-leaning Democrats and the conservative Republicans next week to the White House to discuss the country's budget problems. Business, labour and civic leaders have been invited to the meeting where the so-called fiscal cliff would be discussed, Obama announced during a White House reception.

Obama said a lot of uncertainty about the so-called fiscal cliff could be avoided if Congress allowed tax relief for 98 per cent of Americans to continue into next year. Those tax cuts are set to expire within weeks, but Obama said it would be better for the economy if they continued.

"Let's not wait even as we are negotiating a broader spending package," he said. "That would give 98 per cent of Americans and 97 per cent of small businesses the certainty they need going into the new year."



Source: Copyright 2012 dpa Deutsche Presse-Agentur GmbH


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