Axelrod: Obama may delay high-income tax-cut repeal

By GottaLaff

Tidbit time:

President-elect Barack Obama may consider delaying an election promise - to roll back tax cuts on high-income Americans - as part of his economic recovery strategy, a senior aide and an adviser said on Sunday.

David Axelrod, one of Obama's closest confidants chosen to be a senior White House adviser, was asked if the tax cut could be ended later than Obama called for during the campaign. "Considerations will be made," he said on "Fox News Sunday."

UPDATE:

Bill Daley, an adviser to Obama and commerce secretary under former President Bill Clinton, said on NBC’s “Meet the Press” that it “looks more likely than not” that President Obama will delay any tax increase after 2010, when the Bush cuts for those making more than $250,000 are due to expire.

Mr. Daley was reacting to a report in Sunday’s New York Times that said Mr. Obama was considering putting off the tax increases to give his ambitious economic stimulus proposals a chance to work, quoting several people familiar with the discussions.

And:

His aides' comments suggest Obama may be wary of imposing any additional tax burden at a time of deep crisis, despite the outlook for record budget deficits and mounting national debt. He may also be seeking to bolster Republican support for his recovery measures...

"The main thing right now is to get this economic recovery package on the road, to get money in the pockets of the middle class, to get these projects going, to get America working again, and that's where we're going to be focused in January," Axelrod said.