The White House Office of Management and Budget issued a veto threat late Tuesday night on a House GOP bill that would extend all of the Bush tax cuts:
The Administration strongly opposes House passage of H.R. 8, which would add to the deficit by extending unaffordable and unneeded tax cuts for the highest-income households, while raising taxes by an average of $1,000 on 25 million working families. H.R. 8 would hurt the economy both by increasing the long-term deficit and also by taking money out of the pockets of the families most likely to spend it in the near term.