Friday, November 30, 2012
During his visit to the Philadelphia area today, President Barack Obama is planning on insisting on higher taxes for the top two percent of earners. That's according to White House officials, who say the president will cast Republicans as an obstacle to a deal that would avoid the "fiscal cliff" of tax increases and spending cuts.
Republicans have said they are open to new tax revenue, but not higher tax rates.
White House officials believe today's trip will build momentum for the president's case, even as Republicans say it stands in the way of productive talks.
President Obama is speaking at a manufacturing facility that he will showcase as an example of a business that depends on middle-class consumers during the holiday season.
The trip comes a day after Treasury Secretary Timothy Geithner met privately with congressional leaders. Geithner presented a proposal calling for $1.6 trillion in higher taxes over ten years, and immediate spending to help the unemployed and struggling homeowners. It includes plans for legislation in 2013 aimed at saving $400 billion over 10 years from Medicare and other benefit programs.
But House Speaker John Boehner says many Democrats still don't want to make what he calls "sensible spending cuts."