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President Obama's Weekly Address: Congress Must Extend the Middle Class Tax Cuts

Official White House Photo by Pete Souza(WASHINGTON) -- In his weekly address, President Obama renews his push for lawmakers to decouple the middle-class tax cuts from the rest of the “fiscal cliff” fight and pass an extension immediately.
He also prods Republicans on upper-income tax rates, saying a hike on the wealthiest Americans is “one principle I won’t compromise on."
“After all, this was a central question in the election,” he says.

But the president says lawmakers "can and should do more than just extend middle-class tax cuts."  He says he is ready to work with Republicans on an economic plan that "gives both sides some of what they want."

"I'm willing to find ways to bring down the cost of health care without hurting seniors and other Americans who depend on it," he says. "And I'm willing to make more entitlement spending cuts on top of the $1 trillion in cutsI signed into law last year."

Furthermore, asking the wealthiest Americans to pay higher rates is "the only
kind of plan I'm willing to sign," the president says.

"A clear majority of Americans – Democrats, Republicans and Independents – agreed with a balanced approach that asks something from everyone, but a little more from those who can most afford it.  It’s the only way to put our economy on a sustainable path without asking even more from the middle class," he says.

Copyright 2012 ABC News Radio

ABC News Radio