Obama announces bipartisan agreement on taxes

By ASSOCIATED PRESS
December 7, 2010 03:13

WASHINGTON— US President Barack Obama on Monday announced a bipartisan agreement on year-end legislation to extend expiring tax cuts and renew jobless benefits as part of a sweeping attempt to strengthen the US economic recovery.

Other elements include a cut in taxes that finance retirement for millions of Americans.

Obama did not mention it, but top congressional Democrats objected to the proposal earlier in the day on grounds it was too generous to the wealthy.


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