WaPo: White House And GOP In Secret Talks To Extend Tax Cuts For Wealthy
The Washington Post reports that the White House and congressional Republicans are in secret talks to extend tax cuts for upper income Americans in return for billions of dollars in spending to pump up the economy.
Negotiations have accelerated in recent days as Congress has confronted deadlines for extending a series of tax cuts that expire at the end of the month, renewing emergency jobless benefits and keeping the government funded into next year.
If successful, the back-channel negotiations would add hundreds of billions of dollars to future deficits, even as a bipartisan commission appointed by Obama is trying to build support for a plan to balance the budget. In a briefing for reporters, a senior administration official noted the contradiction but said the provisions being considered would “enhance growth” at a critical moment.Click here for reuse options!
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