February 14th, 2011

President Barack Obama said he would fight for his long-held pledge to reverse tax cuts for upper-income taxpayers after 2012, in a budget blueprint that doesn’t stray far from tax proposals he has made since before taking office.

Mr. Obama struck a compromise with congressional Republicans in December that allowed all the Bush-era individual tax cuts to continue for two more years, including those for wealthy households. But on Monday he framed that as a temporary setback.

“While I had to accept these measures for two more years as a part of a compromise that prevented a large tax increase on middle-class families and secured crucial job-creating support for our economy, these policies were unfair and unaffordable when enacted and remain so today,” Mr. Obama wrote in introducing his fiscal-year-2012 budget proposals.

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