Democrats Want Tax Fix on Obama Stimulus Bill

WASHINGTON (AP) - President-elect Barack Obama's Democratic
allies on Capitol Hill want to use his jobs creation bill to extend
a middle class tax cut despite concerns from Obama's transition
team that it won't boost the economy.
New York Democrat Charles Rangel, Congress' top tax writer, says
lawmakers feel strongly about using Obama's economic recovery
package to advance the annual fix to the alternative minimum tax
now instead of later in the year.
It'll cost about $70 billion to fix the AMT, which means other
job-creating tax cuts would have to be trimmed.
The AMT was designed in 1969 to make sure wealthy taxpayers pay
at least some tax. Now it threatens to snag about 20 million
taxpayers for whom it was never intended.
Obama's transition team says the president-elect will travel to
a Cleveland suburb on Friday to promote his mammoth spending plan
to boost the economy.
Obama plans to tour and visit with workers at the Cardinal
Fastener & Specialty Company in Bedford Heights, Ohio. The company
makes parts used to construct wind turbines.
The event will be Obama's first campaign-style appearance
intended to drum up support for his plan that could cost $775
billion.


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Comments are posted from viewers like you and do not always reflect the views of this station.
  • by DAVID on Jan 15, 2009 at 12:53 PM
    Steve, if you can do any better, and if you are so rich, and all mighty, why don't you run for office. HAW, YOU CANNOT because you do not have a clue. Why don't you go and join Bush in his house after he leaves.
  • by SARA on Jan 15, 2009 at 12:52 PM
    I totally agree every time you purchase a car, it should be tax deductible. Bush did not even try to help the middle class he was all about his own folks the rich. Something needs to be done because more people are out of work due to NAFA and the economy. I will take a tax cut on my salary.
  • by Douglas Location: Baden On on Jan 14, 2009 at 08:23 PM
    Bailing out the Automakers is a temperary fix until they use up that money. Why not make new cars income tax deductable. Automakers will sell cars like crazy the people will get their cut of the bailout and its a win win for everyone.
  • by Randy Location: Martin on Jan 14, 2009 at 03:15 PM
    I don't know how much you all make but I am not in the 1% but I got a tax cut. If you all would stop and think of course the more you make the bigger your tax cut. But Obama wants to give tax cuts to the no works, which I guess was his base vote for election.
  • by steve Location: irvine on Jan 14, 2009 at 03:04 PM
    Well when you liberals wake up and quit shooting the golden goose and stop relying on the government for your handouts and welfare and food stamps and taking the working mans money yes our money not the governments which you leftist love. When this 4 years is up you liberals will have you another little Jimmy Carter. Bush won his 8 years you liberals will probably get impeached in less than 4 like all of the rest of your buddy's in the news. And thank god for him after 911 you guys would pat the terrorist on the head and turn them loose socialist thugs.
  • by Zeke Location: Olin on Jan 14, 2009 at 01:58 PM
    What about the poor working class that don`t have enough deductions to lower their taxes. There are a lot of people who don`t make $20,000 that do not get refunds. Not everyone can get the 40,000 jobs especially those over 40, I know several who`s kids make a lot more than their parents do, they can`t get a refund
  • by John on Jan 14, 2009 at 01:41 PM
    Lets NEVER forget that Bush only lowered taxes on America's wealthiest 1% and the rest of us bear the burden -------and you wonder what happened to the economy!!!
  • by Karen on Jan 14, 2009 at 01:32 PM
    Of course these middle class Republicans won't accept a tax cut from a democrat(lol).

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