In blow to tax negotiators, Obama threatens veto

U.S. President Obama talks about immigration reform in ChicagoWASHINGTON (Reuters) – President Barack Obama pledged on Tuesday to veto a deal still under negotiation in Congress that would make several expiring business tax breaks permanent. The warning marks a major setback to House and Senate negotiators who were trying to reach a deal on so-called “tax extender” breaks worth some $440 billion over 10 years. “The President would veto the proposed deal because it would provide permanent tax breaks to help well-connected corporations while neglecting working families,” White House spokeswoman Jennifer Friedman said in a statement. …

Share this article