Obama, GOP Will Keep Working on Tax-Cut Deal

They hope to reach compromise on Bush cuts by year's end
By Newser Editors and Wire Services
Posted Nov 30, 2010 1:22 PM CST
Obama, GOP Will Keep Working on Tax-Cut Deal
President Obama makes a statement to reporters about his meeting today with Republican and Democratic Congressional leaders.   (J. Scott Applewhite)

Reaching no quick fixes, President Obama and Republican leaders in Congress today vowed to seek a compromise on tax cuts before year's end. "The American people did not vote for gridlock," Obama said following the session. There was no consensus on whether to keep Bush-era tax cuts in place for the middle class and wealthy alike, but the eight bipartisan congressional leaders and the president agreed to appoint a working group to negotiate a deal.

Obama appointed Timothy Geithner and budget director Jacob Lew to the group while party leaders will appoint their own representatives. House Speaker-in-waiting John Boehner called it a "nice meeting," but said the hard work of achieving bipartisan agreement still lies ahead. Mitch McConnell said the GOP remains "100%" against any tax increases. Click here for more.
(More President Obama stories.)

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