“We’re hopeful that Congress can get it done, but it’s not done,” the president said.
The potential agreement would make sure taxes don’t go up on the middle class and extends tax credits for families with children, college tuition and clean energy companies. It would also extend unemployment insurance to two million Americans still actively seeking work.
The president said although his preference would have been to address many of the most urgent budget matters in a bigger deal or “grand bargain,” Congress’ repeated failings made it more likely to be done in several smaller stages of legislation. Keeping the middle class rates steady was one area he said he expected bipartisan support from Congressional leaders before Tuesday.
“I’m willing to reduce our government’s Medicare bills by finding ways to reduce the cost of healthcare in this country,” he said. “But that kind of reform goes hand in hand with doing some more work to reform our tax code,” to keep wealthy individuals and businesses from taking advantage of loopholes and deductions.
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