|Published:||Nov 13, 2010 9:31 PM EST|
|Updated:||Nov 13, 2010 6:31 PM EST|
WASHINGTON (AP) - Members of Congress are expected to start laying the groundwork in the next several days for a deal with the White House on an extension of Bush-era tax cuts.
President Barack Obama has been opposed to extending the cuts for the nation's highest earners, but has said he wants to compromise with Republicans to make sure tax cuts for middle-income families continue. And that suggests that he's open to extending all of the tax breaks for a year or two.
Some GOP lawmakers want more, saying the cuts need to be permanent.
But the Senate's top Republican has said he's open to a temporary extension of all of the cuts.
Democrats will have majorities in both the House and Senate when Congress returns next week for a lame-duck session. They will need Republican support to get the 60 votes necessary to pass a tax bill in the Senate.
Without a deal, all the cuts could expire in January, at least temporarily. And that could bring significant tax increases for families at every income level.