“
The House speaker told reporters Thursday she is adamantly against continuing the tax cuts, which expire at year’s end, for those making more than $250,000. “My stance is that the Bush-era tax cuts contributed to the deficit, did not create any jobs, and that they should be repealed,” said Pelosi, a California Democrat. The speaker made it clear she does favor continuing the tax cuts for middle-income Americans. “I think we have a clear distinction here,” she said. “If we want to lower taxes for the middle class and reduce the deficit and create jobs, extending the tax cuts at the high end are not in furtherance of reaching those goals.” Treasury Secretary Timothy Geithner said essentially the same thing at a breakfast with reporters. The Obama administration, he said, will let tax cuts for the wealthiest Americans expire as scheduled on Jan. 1, as part of an effort to help narrow the budget deficit.
