Politics

Obama promises Dems to raise taxes to pre-Bush era rates

interns Contributor

In a meeting with House Democrats on Thursday, President Obama stressed that his administration would draw a firm line on taxes and revenues both in the deficit- and debt-reduction debates and in the buildup to the 2012 elections.

According to multiple meeting attendees, the president reiterated on several occasions that a deal to raise the country’s debt ceiling would include revenue increases, even as Republican lawmakers insist that such a deal should be restricted to spending cuts and entitlement reforms.

“I’ve been very clear about revenues as a part of a balanced package, and I will continue to be,” said Obama.

Full story: Obama won’t extend Bush tax cuts again: Pledge to House Dems