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McConnell offers Obama temporary deal on Bush tax cuts
Deal? What's the deal.
The Senate's top Republican renewed an offer today to President Obama over the George W. Bush-era tax cuts, due to expire at the end of the year.
"What we ought to be doing is extend the current tax rates for another year with a hard requirement to get through comprehensive tax reform one more time," said Senate Minority Leader Mitch McConnell, R-Ky., speaking on CNN's State of the Union.
President Obama and aides have shown little interest in a one-year extension, saying the Bush tax rates should be extended for middle-class Americans but ended this year for the wealthiest.
Former White House press secretary Robert Gibbs, also on CNN, said the Bush tax cuts "disproportionately impact millionaires and billionaires," and should be preserved only for the middle class.
Yes, let's take more money out of the economy, but continue the break for the wealthy.
But we want those cuts extended for our special interests.
Democrats have zero cred on the subject.