Saturday, January 10, 2009

The Bush Tax Cuts After Obama

Obama says stimulus proposal could grow
President-elect suggests he won't seek quick repeal of Bush tax cuts

President-elect Barack Obama confirmed to CNBC Thursday that he plans to lay out a roughly $775 billion economic stimulus plan but indicated that the amount could grow once it gets taken up by Congress.

"We've seen ranges from $800 (billion) to $1.3 trillion," he said in an exclusive interview with CNBC's chief Washington correspondent John Harwood. "And our attitude was that given the legislative process, if we start towards the low end of that, we'll see how it develops."

indicated that he may not seek a quick repeal of President George W. Bush's tax cuts for people making over $250,000 and will let them expire in 2010.

Campaign Rhetoric - meet the Pragmatism that is forced upon an individual when he is in power and accountable to something.

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