House Democratic Leader Nancy Pelosi just pulled her caucus well to the right of President Obama, as she dramatically broadened the scope of her proposal for extending the Bush-era tax cuts.
The White House, since Obama took office, has called for those tax rates to be extended only for households making less than $250,000 a year. The president wants the rates to expire for everybody else.
But Pelosi, in a letter to House Speaker John Boehner, upped that threshold to $1 million. She urged Boehner to schedule a vote “as early as next week” to extend the “middle-income tax cuts” — which she apparently is defining as those affecting households that make less than $1 million.
Full Article: Pelosi parts from Obama on Bush tax rates, urges extension for those making under $1M