- Special Sections
- Public Notices
WASHINGTON (AP) — Senate Republicans derailed legislation Saturday to extend expiring tax cuts at all but the highest income levels in a political showdown that paradoxically clears a path for a compromise with the White House on steps to boost the economy.
"We need to get this resolved and I'm confident we can do it," President Barack Obama said shortly after the near party-line votes. The public must have "the peace of mind that their taxes will not go up" on Jan. 1, he added.
Obama has signaled that he will bow to Republican demands for extending tax cuts at all income levels, and his remarks capped a day that lurched between political conflict and talk of compromise on an issue that played a leading role in last month's elections.
Sen. Chuck Schumer, D-N.Y., eyeing the 2012 campaign, accused Republicans of siding with "millionaires and billionaires" with their rejection of proposals that would let tax cuts passed during George W. Bush's presidency lapse on seven-figure incomes.
If you currently subscribe or have subscribed in the past to the Los Alamos Monitor, then simply find your account number on your mailing label and enter it below.
Click the question mark below to see where your account ID appears on your mailing label.
If you are new to the award winning Los Alamos Monitor and wish to get a subscription or simply gain access to our online content then please enter your ZIP code below and continue to setup your account.