Well, this is a mess…
Remember yesterday, when Barack Obama called on Congress to extend Bush-era tax cuts for families making up to $250,000? Remember how Obama made the politically risky move of describing the economy as disappointing under his watch, using that as proof the country needs tax break extensions? And then there was that whole “‘Do the right thing,’ Congress! Stop holding the country ‘hostage!’ ‘I will sign it tomorrow'” bit.
Apparently, Obama will veto said legislation — if Congressional Republicans try to extend all tax cuts, including for earners making over 250 K.
Of course, this is what the GOP will probably do, considering House Speaker John Boehner swore that the House would vote to extend tax cuts for all, according to ABC.
We told you this was a mess!
According to various reports, both an administration official and Obama himself confirmed that the prez would kill such a proposal.
Last night, he told a New Orleans CBS affiliate: “I would veto it…Here’s why: What I’m proposing is that we give a tax break — that we make sure that taxes don’t go up — on 98 percent of Americans. Ninety-eight percent. But to extend tax breaks for that top 2 percent of wealthiest Americans would cost us $1 trillion over the next decade.”
Said White House Press Secretary Jay Carney: “He would not support it. He would not sign that bill…He would veto.”
As the HuffPo notes, Congressional Republicans don’t take Obama’s veto vow seriously.
But if he does strike down the legislation, GOPers could turn around and accuse him of holding Americans “hostage,” as a veto could be perceived as an unwillingness to compromise.