White House: Expiry of Bush tax cuts to spur reform
The deal sets up a congressional committee that would explore tax reform as well as other deficit-cutting measures by the end of this year.
WASHINGTON: White House officials said on Sunday the spending cuts laid out under a new deficit deal would not take effect until 2013 and the expiry of Bush-era tax cuts for the wealthiest Americans would spur broad tax reform.
Speaking to reporters after President Barack Obama outlined the deal, White House officials said Obama would veto an extension of the cuts enacted under former President George W. Bush if tax reform were not implemented.
The deal sets up a congressional committee that would explore tax reform as well as other deficit-cutting measures by the end of this year.
Speaking to reporters after President Barack Obama outlined the deal, White House officials said Obama would veto an extension of the cuts enacted under former President George W. Bush if tax reform were not implemented.
The deal sets up a congressional committee that would explore tax reform as well as other deficit-cutting measures by the end of this year.
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