President Barack Obama may press Congress for tax cuts that would exceed his past proposals as well as some of the offerings from House Republicans to strengthen his hand in talks on measures to boost the U.S. economy, according to a person familiar with the discussions.
With Obama set to lay out his plans in a Sept. 8 address to Congress, the administration is focusing on cuts targeted at middle-income Americans to spur consumer spending, which accounts for 70 percent of the economy, said the person, who spoke on condition of anonymity to discuss internal deliberations.
In a speech to a union crowd in Detroit yesterday, Obama said he would challenge Republicans on taxes.
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