After its August recess, Congress is back in session today and the major issue that’s up for debate over the coming weeks is whether or not to extend the Bush-era tax cuts, which are due to expire at the end of the year. President Obama wishes to increase income taxes on households making more than $250,000 per year. Republican House Minority Leader John Boehner announced he might not oppose Obama’s tax plan, although many other Republican leaders want to extend all tax cuts originally introduced by George W. Bush in 2001 and 2003. What will be the final fate of the Bush-era tax cuts? And, along with a small-business jobs bill, what else is on the legislative agenda?
Glenn Thrush, Senior Congressional Reporter, politico.com
Jack Shaw, Capitol Hill reporter for Market News International