Obama Puts Foot Down on Tax Cuts

The White House has drawn a line in the sand: Obama told Democratic leaders on Saturday that he plans to block any extension of Bush-era tax cuts—even a temporary one—unless it’s accompanied by an extension of benefits for unemployed Americans, which expired this week. Earlier in the day, Senate Republicans stopped a proposal to allow Bush's tax cuts for upper-income Americans—those making more than $200,000 annually or households bringing in more than $250,000—to expire. Democrats have said they wish to extend benefits only for those making less than those threshholds.