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Obama, GOP to Resume Tax Cut Standoff

HeadlineJul 09, 2012

President Obama is expected to resume a long-running dispute with Republicans today over the Bush-era tax cuts that favored the wealthy and plunged the nation into further deficit. In a Rose Garden address, Obama will renew his call to limit the tax cut’s extension to those making $250,000 or less, and only for one year. Republicans are planning a vote in the coming weeks to extend the tax cuts for all income brackets, in addition to a separate vote on repealing Obama’s signature healthcare law.

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