President Barack Obama on Friday had his say: Congress should pass what everyone agrees on — extend Bush-era Middle Class tax relief for families earning up to $250,000.
For higher incomes, Obama said the country can’t afford extending tax cuts, but he is willing to talk about it . “We can have a further conversation about how they want to spend an additional $700 billion to give an average of $100,000 to millionaires. That I think is a bad idea.”
Obama didn’t slam the door in anyone’s face. In fact, if someone was looking for grains of compromise he appeared to leave the door slightly ajar.
House Republican leader John Boehner, who could be Speaker if his party wrestles control from Democrats on Nov. 2, said on Sunday that he would be open to only the Middle Class extension if that was the only piece that would get through, but in principle all the expiring tax relief should be extended.