President Obama will begin pushing for a one-year extension of the Bush tax cuts for Americans making less than $250,000, reports the New York Times. The announcement from the Rose Garden Monday will signal the president's emphasis on tax fairness as a major issue just four months from the election. Pushing the issue is also meant to make House Republicans look unreasonable as they move this month to vote on a full, permanent extension of all of the Bush tax cuts.
The president will take the issue out on the campaign trail Tuesday. From the Times:
The White House hopes to squeeze maximum political mileage out of the Rose Garden event, surrounding Mr. Obama with families and workers who would benefit from the extension. On Tuesday, he will take his message to Iowa, the battleground state that turned him into a serious presidential contender in 2008.
Beyond politics, the administration officials indicated that the proposal is a short-term compromise to the tax debate before the election ultimately determines the future of the Bush tax cuts.
Proposing a one-year extension, a senior official said, recognizes that Mr. Obama and the Republicans are not likely to resolve the larger debate over whether to permanently extend the Bush tax cuts for everyone or, as Mr. Obama has long advocated, just for the middle class. That debate is likely to be decided at the ballot box, where a victory by Mr. Romney would almost certainly enshrine all the tax cuts.