Obama Says He’s Ready to Negotiate With Republicans on Tax Cuts
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President Barack Obama said he is “absolutely” ready to negotiate this month with congressional Republicans, whose success in the Nov. 2 midterm elections has hardened their stance that Bush-era tax cuts set to expire next month should be extended for high-income taxpayers.
Obama, a Democrat, said yesterday that he hopes to avoid “brinkmanship” in the lame-duck session of Congress when he deals with Republicans on preventing the expiration of lower tax rates on wages, investments and multimillion-dollar estates enacted in 2001 and 2003. Unless Congress acts, those tax policies expire Dec. 31.