White House warns of $1,600 tax hike on 114M middle-class families

By Jonathan Easley – 07/24/12 10:05 AM ET

 The White House has launched a new offensive in its fight with congressional Republicans over taxes, arguing 114 million middle-class families will see their taxes rise without action by Congress.

A report from President Obama’s National Economic Council released Monday contends the families would see their taxes rise by an average of $1,600 if the George W. Bush-era tax cuts expire as scheduled at the end of the year.

The report is the latest effort by President Obama to corner Republicans on taxes.  Read More…

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