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Jul 09, United States Senator. Sounding every bit like the candidate he is, President Barack Obama called Monday for a one-year extension of Bush-era tax cuts on annual income up to, while letting those that chiefly benefit the very wealthy expire on schedule at year's end.

The proposal reignited an election-year fight designed to polish his Estimated Reading Time: 7 mins. Dec 17, The tax cut package angered liberals in the president's party due to the extension of the Bush-era tax cuts for the roughly two percent of highest Estimated Reading Time: 5 mins. Tax Assessment Aide Lori Rotunno. Phone:Fax:Town Hall Underhill Avenue Yorktown Heights, NY Feb 28, Obama had pledged to allow the Bush tax cuts to expire for those making more than, a year.

The Tea Party said this would stifle job creation by hurting the small business owners who create 60% of all new jobs. Jan 24, The Bush tax cuts (along with some Obama tax cuts) were responsible for just 24 percent. The New York Times stated in an editorial that the full Bush-era tax cuts were the single biggest contributor to the deficit over the past decade, reducing revenues by Estimated Reading Time: 12 mins.