WASHINGTON D.C. - Republicans may be making room for compromise.
After repeatedly calling on the Obama administration to extend Bush era tax cuts for ALL Americans, House G-O-P leader John Boehner expressed a change of heart Sunday.
He said he would support extending tax cuts for families making less than 250,000 dollars, EVEN if tax cuts for the wealthy are allowed to expire at the end of the year.
"If the only option I have is to vote for some of those tax reductions,then I'll vote for them," Boehner says.
Republicans argue raising taxes would only hurt the economy. Public opinion polls show that most Americans support letting tax cuts for the wealthy expire. The Obama adminstration says it has no other choice. "What we cannot afford to do," Economic Advisor Austin Goolsbee says, "is pass $700 billion in additional tax cuts for millionaires and billionaires at a time when we are just going to borrow the money."
White House Press Secretary Robert Gibbs welcomed Boehner's change in position but in a statement said, "time will tell if his actions will be anything but continued support for the failed policies that got us into this mess."
The tax cut debate could hit the House floor later this month. But many political observers don't expect a final deal to be reached until after election day.