Obama: Let’s extend the middle class tax cuts right now

In an East Room speech Friday afternoon, President Obama said Congess should act immediately to freeze tax rates on those making less than $250,000 a year.

Allowing the tax cuts to expire for the households under that threshold "would be bad for the economy, and would hit families that are already struggling to make ends meet,” he said. “We shouldn’t need long negotiations and drama to solve that part of the problem.”

Read a full transcript here

Natalie Jennings is a Web producer for PostTV.

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Natalie Jennings · November 9, 2012