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Obama urges Congress to extend Bush tax cuts




President Obama is pushing Congress to extend tax breaks for people making less than $250,000 a year.
President Obama is pushing Congress to extend tax breaks for people making less than $250,000 a year.
JIM WATSON/AFP/Getty Images

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Taxes are the talk of the town in Washington today. President Obama is asking Congress to extend the Bush-era tax cuts which are set to expire at the end of the year. Congress voted to continue the tax cuts in 2010, but this time there is a sticking point; President Obama wants the cuts to apply only to families that make less than $250,000. The Republicans say the cuts should continue for all taxpayers.

Guest:

Hans Nichols is a Bloomberg correspondent; he joins the show from the White House.