President Barack Obama, who has disagreed with Republican Congress members on whether to extend George W. Bush-era tax cuts for wealthier Americans beyond this year, said Tuesday that he will work with U.S. senators on finding some sort of tax-policy agreement by the end of the year, Reuters reported.

Obama met with incoming Speaker of the House John Boehner, Republican Senate Leader Mitch McConnell, current House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid for about two hours Tuesday to discuss a possible accord.

U.S. Treasury Secretary Timothy Geithner and Budget Director Jack Lew will work with Congress members on both sides of the aisle to reach an accord that would prevent widespread tax increases for 2011, the wire service said.

The Bush-era tax cuts have been a point of contention between Obama, who is looking to increase the tax rate on capital gains while supporting tax breaks for the middle-class and small businesses, and Republicans, who say ending the tax breaks would hamper the country's economic recovery. When asked at a September hearing about extending the cuts, Geithner was noncommittal.

Democrats have estimated that extending the tax cuts would cost $700 million and said it would work against the Obama administration's efforts to reduce the U.S. deficit. Republicans have argued that extending the tax cuts would boost investment and help create jobs, according to Reuters.


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Samir semaan

What the president should be interested today is to have unemployment benefit for americans who are going to lose their benefit today and to deal with the issue of tax cuts and if he has to extend the Bush era tax for the rich he should make sure that americans must not lose their unemployment benefit for the next year because unemployment will stay at least at the same level or higher a little because of the uncertainty in the housing market and the forclosures will be more increasing in the next five months and the value of homes will fall.

November 30 2010 at 9:53 PM Report abuse rate up rate down Reply
jazzmojazz

http://www.nytimes.com/2010/08/01/opinion/01stockman.html?_r=1

November 30 2010 at 8:24 PM Report abuse rate up rate down Reply
fasteddie1257

garstang, you have a Merry Christmas as well..

November 30 2010 at 8:04 PM Report abuse rate up rate down Reply
fasteddie1257

I agree garstang...However, the compasssion ends with the folks that have no longer the desire to forward themselves. Do you really understand my point of view?

November 30 2010 at 8:03 PM Report abuse rate up rate down Reply
fasteddie1257

Everyone under 25 is on a learning curve. The gimme-gimme generation. Tantrums used to be dealt with. Now America has rediscovered the Ballot box.

November 30 2010 at 8:00 PM Report abuse rate up rate down Reply
fasteddie1257

1.2 million government workers at the end of Dubya's 2nd term...1.43 million government workers just after 2 years of Barry. 20% increase. Unemployment @ 10%. Who is going to pay these pencil pushers?

November 30 2010 at 7:57 PM Report abuse rate up rate down Reply
fasteddie1257

Never said U did not work...Don't put words in my mouth

November 30 2010 at 7:52 PM Report abuse rate up rate down Reply
1 reply to fasteddie1257's comment
garstang01

I hope you and your family have a happy and healthy holiday season, we have a right to disagree which I do, but I will never stop having compassion for anyone.

November 30 2010 at 7:58 PM Report abuse +1 rate up rate down Reply
fasteddie1257

I have compassion. America is built on it. America has lost it's perseverence.

November 30 2010 at 7:51 PM Report abuse rate up rate down Reply
1 reply to fasteddie1257's comment
garstang01

See, IM one that wishes that others had it as good as I have had it. I pray everyday that the suffering will stop. I just don't see tax cuts for the HAVES as stopping anything. Period.

November 30 2010 at 7:55 PM Report abuse rate up rate down Reply
fasteddie1257

There is work out there. Is it so demeaning to get paid for somthing that may get looked down upon? It's a check for work! Seems a good few can no longer see. Get off your self-proclaimed high horse and find something to do.

November 30 2010 at 7:48 PM Report abuse rate up rate down Reply
1 reply to fasteddie1257's comment
garstang01

Who said I don't work?

November 30 2010 at 7:50 PM Report abuse rate up rate down Reply
fasteddie1257

Sorry stang...I have common sense. I need not someone to think for me, feed me, pay my bills.

November 30 2010 at 7:42 PM Report abuse rate up rate down Reply
2 replies to fasteddie1257's comment
garstang01

You may have common sense but you are lacking compassion. I will let my actions speak for themself.

November 30 2010 at 7:46 PM Report abuse rate up rate down Reply
garstang01

IM in the process of selling a 113 acre plot to be able to donate all the proceeds to local charities for the holidays. Now I guess I should be ashamed of GIVING a hand out, Right?

November 30 2010 at 7:48 PM Report abuse rate up rate down Reply