The original content of Democracy Now! Headlines appears under the Creative
Commons BY-NC-ND 3.0 License (United States). For more, including their other
shows and media, visit www.democracynow.org.
September 16, 2010

Report: GOP Plan to Extend Tax Cuts for Wealthiest Would Add $4.1 Trillion to Federal Debt
------------------------------------------------------------------------------------------



A new analysis shows the Republican-led plan to extend the Bush
administration’s tax cuts for the wealthiest Americans would add nearly
$4 trillion to the federal debt. Republicans introduced the plan this
week to counter President Obama’s proposal to extend the tax cuts only
for households making under $250,000. The Washington Post says Obama’s
plan would add $1.4 trillion to the debt, a difference of around $2.5
trillion compared to the Republican plan. Speaking from the White House,
President Obama said Republicans are holding middle-class tax cuts
hostage.

President Obama: "Right now, we could decide to extend tax relief for
the middle class. Right now, we could decide that every American
household would receive a tax cut on the first $250,000 of their income.
But once again, the leaders across the aisle are saying no. They want to
hold these middle-class tax cuts hostage until they get an additional
tax cut for the wealthiest two percent of Americans. We simply can’t
afford that."



.