Boehner: I'll Drop Tax Cut for Rich If I Have To
The leading Republican in the House, and a vocal proponent of allowing an extension of the Bush-era tax cuts for all Americans, including the wealthiest 3% of earners, objected to charges by President Obama that Republicans are holding tax breaks for the bottom 97% of earners hostage unless the wealthiest also get an extension.
In a pre-taped interview to appear on CBS' "Face the Nation" Sunday, Republican House Minority Leader John Boehner said that, if approving a bill to extend breaks for middle class income Americans were "the only option," he would support it.
The Congressional Budget Office has estimated extending tax cuts for the wealthiest Americans would cost $700 billion over the next decade.
At a speech in Ohio earlier this week, Mr. Obama said, "With all the other budgetary pressures we have - with all the Republicans' talk about wanting to shrink the deficit - they would have us borrow $700 billion over the next 10 years to give a tax cut of about $100,000 each to folks who are already millionaires."