Obama Budget Points Up $1 Trillion Tax Gap With Republicans
This article is for subscribers only.
President Barack Obama and congressional Republicans are $1 trillion and a conceptual leap apart on taxes, a policy gap accentuated by the administration’s 2014 budget.
Obama yesterday proposed higher taxes for top earners, estates, private-equity managers and tobacco users, wrapped inside a call for “reforming our tax code.” Republicans instantly rejected any tax increase as unacceptable.