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Obama aide says he may postpone repeal of tax cuts

November 24, 2008 by  

Tax cut repeal in questionDuring the recent hard-fought presidential campaign, Barack Obama repeatedly promised that he would put an end to tax cuts for wealthy Americans that had been put in place by President Bush.

Now, according to one of his aides, he is considering letting those tax cuts expire in 2011 as scheduled, instead of rolling them back on an earlier schedule.

The move would be intended to stimulate economic recovery in the U.S., alongside additional tax cuts for lower-income and middle-income Americans, David Axelrod said on Fox News Sunday.

"The main thing right now is to get this economic recovery package on the road, to get money in the pockets of the middle class, to get these projects going, to get America working again, and that’s where we’re going to be focused in January," Axelrod said, according to Reuters.

Obama is currently charged with balancing the need to plug an enormous federal deficit with the potentially dangerous effects that raising taxes could wreak on the economic situation.

The president-elect has also hinted that he will call for a larger-than-expected stimulus package for the country in the coming months.
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