Tuesday, February 2, 2010

Administration Will Not Tell Fiscal Commission to Avoid Tax Hikes on Incomes Below $250,000

Obama’s budget director would not say whether the administration will recommend that taxes not be raised on Americans earning less than $250,000 annually. A fiscal commission, which has not yet been assembled, is expected to review ways to reduce the federal deficit.

Such an increase would violate the president’s campaign pledge to hike taxes only on higher income earners.