Obama: Wealthy must see higher taxes under plan

Associated Press Modified: November 9, 2012 at 12:30 pm •  Published: November 9, 2012
Advertisement
;

WASHINGTON (AP) — President Barack Obama says raising taxes on wealthiest Americans must be part of deficit reduction plan but says he is "open to compromise" and "new ideas." Obama says he will refuse to accept any approach that "isn't balanced."

Obama says in his first public comments since the election that Congress should pass a bill that would prevent Bush-era tax cuts from expiring for all but the wealthiest Americans. He says lawmakers from both parties need to work together to tackle the nation's fiscal problems.

The president says he is inviting congressional leaders of both parties to the White House next week for talks on how to avoid the fiscal cliff. Lawmakers face a Jan. 2 deadline to reach an agreement.


Advertisement


Trending Now



AROUND THE WEB

  1. 1
    15 hurt when fire trucks crash; one plows into restaurant
  2. 2
    Meet the sisters saving Spanish horses from slaughter
  3. 3
    News 9: Man accused of child sex crimes during game of truth or dare
  4. 4
    KOCO: Oklahoma City shooting range first to offer bullets, booze
  5. 5
    Lance Armstrong makes rare public appearance ... as a bike mechanic
+ show more