Efforts to Extend Bush-Era Tax Cuts Falter as Talks Are Delayed
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A deal to extend soon-to-expire Bush-era tax cuts won’t be completed until December, and some Democrats in Congress said an accord may not be reached this year.
President Barack Obama and congressional leaders postponed until Nov. 30 a White House meeting, previously scheduled for tomorrow, to negotiate whether to extend lower tax rates for all taxpayers or just those with incomes of $250,000 or less. Separately, Democrats, who control the Senate, said they haven’t agreed on a plan.