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Obama Wants Stop Gap Tax Deal

President Obama urged Congress on Saturday to at least pass a short-term measure that would avert major tax increases for most Americans in the new year while continuing to press for a comprehensive deal to avoid the imminent fiscal cliff of severe budget cuts and tax increases.

“Congress can prevent it from happening, if they act now,” Obama said in his weekly radio address. “Leaders in Congress are working on a way to prevent this tax hike on the middle class, and I believe we may be able to reach an agreement that can pass both houses in time.”

Source: Washington Post. Read full article. (link)

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  • Sevo||

    "at least pass a short-term measure"

    Does not exist. Like the Doc Fix, it will simply be extended and add one more permanent layer of complexity to the tax code.
    The winner will be the tax prep industry.

  • steve walsh||

    I am not the first to say this, and am unlikely to be the last, but I want the people that re-elected Barrack Obama, and re-established the Democrat majority in the Senate, and kept the House in Republican control, aka: status quo ante the 2012 Election, to have their taxes go up - bring on the Fiscal Cliff®!