Obama to Call for Tax Cut Extension for Middle-Income Earners

Monday

Jul092012

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McNamee/Getty Images(WASHINGTON) -- President Obama on Monday will call for a one-year extension of the “Bush tax cuts” for individuals making less than $250,000 a year, while allowing cuts for those earning above that level to expire at the end of the year, a campaign official tells ABC News.

This will be the focus of the Obama campaign and White House this week, including the president’s round of local affiliate interviews on Monday and campaign events in Iowa on Tuesday.

The president will announce his proposal in the East Room of the White House at 11:50 a.m. ET. It comes as part of a continuing effort by Obama to change the subject from jobs and the economy, particularly after last Friday’s Labor Department report.