Expire in 2010

Pelosi wants tax cut for wealthy repealed

WASHINGTON – House Speaker Nancy Pelosi wants Congress to consider repealing President Bush’s tax cuts well before they expire in 2010, in contrast to what President-elect Barack Obama is proposing.

In an interview aired Sunday, Pelosi said, “I don’t want them to wait two years to expire because they have to prove their worth to me.”

She also said that Democrats campaigned on a promise to end the Bush tax cuts for those who make more than $250,000.

Pelosi, appearing on “Fox News Sunday,” said Democrats had campaigned on a message it heard from the Congressional Budget Office, saying that “nothing contributed more to the budget deficit than the tax cuts for the wealthiest people in America.” Obama also has pledged to end the tax cuts. But aides have said that he is not proposing to raise taxes at this time on those making more than $250,000, citing the economic crisis, rising joblessness and the credit squeeze.

The Associated Press

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