President Obama will meet with the new Republican leadership for the first time on Tuesday, as House Speaker-elect John Boehner, Senate Minority Leader Mitch McConnell, and other Republicans head to the White House along with Harry Reid and Nancy Pelosi. Taxes will be the main issue: Republicans are calling for an across-the-board extension of the Bush tax cuts, including for rich people, while Obama and the Democrats want to limit the extension to families earning less than $250,000 a year. The most likely compromise is a temporary extension of all tax cuts.
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