Obama’s Tax Plan Omits the Middle Class

Obama’s budget chief hinted that the president’s signature campaign issue – a middle class tax cut – will not likely survive a budget battle with Democrats on Capitol Hill.

On a conference call with reporters in advance of the President’s trip to the hill to speak before the Senate Democratic caucus, OMB Director Peter Orszag indicated that while 98% of the budget mark-ups in the House and Senate are on par with the administration’s budget blueprint, some campaign trail promises, like middle class tax cuts, may get left on the cutting room floor.

The administration had tied the revenue raised from cap-and-trade to the Making-Work-Pay tax credit for families – both of which have been brought up as possibilities to be scrapped from the Senate and House budget resolution.

How’s that “change” working out for you?

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