Gibbs: Obama Will Listen To GOP Pitch On Extending Tax Cuts For Wealthy

WASHINGTON -- White House Press Secretary Robert Gibbs reiterated on Thursday that the president will be open to extending the upper-end Bush tax cuts for one or two years as part of a broader compromise with Republicans.

"He would be open to having that discussion and open to listening to what the debate is on both sides of that," said Gibbs, during an off-camera gaggle with reporters. "Obviously... making those tax cuts for the upper end permanent is something the president does not believe is a good idea."

The issue, Gibbs said, will be a topic of discussion when the president convenes a bipartisan meeting of lawmakers at the White House in two weeks. Included in that meeting (and working dinner) will be Speaker Nancy Pelosi (D-Cali.), incoming Speaker John Boehner (R-Ohio), Majority Leader Steny Hoyer (D-MD), incoming Majority Leader Eric Cantor (R-Va.), Senate Majority Leader Harry Reid (D-Nev.), Majority Whip Dick Durbin (D-Ill.), Senate Minority Leader Mitch McConnell (R-Ky), and Minority Whip Jon Kyl (R-Ariz.).

At his press conference on Wednesday, the president expressed his first openness to date with the process of negotiating on the Bush tax cuts, which are set to expire at the end of the year. Earlier, the administration had insisted that extending those cuts for the wealthy (families making more than $250,000 a year) would be off the table -- wary that extending them temporarily would simply invite lawmakers to keep extending them indefinitely.

Tuesday's elections, undoubtedly, changed the dynamics and, in turn, has given Republicans little incentive to compromise. Appearing on MSNBC, Sen. Orinn Hatch (R-Utah) said he saw no room for negotiating on the Bush tax cuts. All of them, he argued, should be extended.

"He is certainly willing to listen to both sides," said Gibbs when press specifically on a one or two-year extension for the tax cuts for the wealthy.

"It is again, November 4. We know that, when this year ends, tax rates are going to go up for the middle class... So if we don't act on the expiring tax cuts by the end of this year, we know what's going to happen... We have both houses coming back and this is an issue that must and has to be dealt with."

Comments

[Paul Russell]

05:33 PM on 11/07/2010

Yet another shining example of Obama believing that he will somehow reach Republicans

Looks like we are in for 2 more years of watered-down policies

[amanda mariee]

10:47 AM on 11/06/2010

Pleeeease President Obama remember your base, let the tax cuts expire! The extension of these tax cuts will drive a stake, not a nail, into the soon to be coffin of your 2012 campaign. XO

[politicalguy94]

09:47 PM on 11/05/2010

Is the president really going to compromise with the Republicans again? After numerous compromises, even down-to-the bone ones like that with the Disclose Act, failed to break Republican filibusters, and after the Republicans got away with filibustering the Democrats' legislation?
We need to tell the president to stop compromising with the Republicans and to start playing hardball with them! Tell the president to stand up for the majority of Americans who want the Bush tax cuts for the rich to expire!

[bucknackt]

01:23 PM on 11/05/2010

The argument from the gop and their tea-bagger allies is the wealthy will use their tax cut for creating jobs. BULL. The have received their tax cut for the duration of the recession...how many jobs have they created with this money? No fair counting the undocumented aliens they hire to do their lawn work, their house work and as nannies, and no, you can't count the jobs they created in the prc or India through outsourcing...I want the republican leadership to provide the number of jobs created by the bush era tax cuts to the rich during this recession. If they can't provide significant facts and figures then Pres. Obama can not consider extending the tax cut for the wealthy.

[MCWAY]

09:48 AM on 11/05/2010

The President is cracking. Unbelievable!!

Who'd thought the party that was once left for dead 18 months ago would come storming back and all but bring Obama to his knees?

Who'd thought that Tea Party, at which Nancy Pelosi once laughed and dismissed as "astroturf", would be the genesis of the resurgence that tossed Pelosi right out on her progressive backside?

If he cracks on this, he can (and perhaps will) crack on ObamaCare.

[evan la]

09:36 AM on 11/09/2010

Nancy was right - and she was hardly "tossed out". She'll be a formidable minority leader. Don't count your chickens just yet, Teabagistan.

[DrBlunt]

04:32 AM on 11/05/2010

I will ALWAYS LOVE Obama as a person.... as a politician?

What Phuckinnn EVER!

[joeyfoto]

04:32 AM on 11/05/2010

If President Obama caves in on this issue — i.e. adding 700 Billion dollars in deficit spending to give tax-breaks to wealthy people — I believe that it would be rational to conclude that voting in American elections is no longer a moral obligation, since citizen's votes have no meaningful consequences.

I voted for Barack Obama in large part because Joe Biden said that he has "steel in his spine." If I was not deceived, that toughness will show here. If President Obama caves in on this, Biden lied.

[docbets]

06:16 AM on 11/05/2010

Faved, and for your pinpointed point, fanned.

[MCWAY]

09:49 AM on 11/05/2010

Even steel will melt, if the fire is hot enough.

As of Tuesday, FLAME ON!!!

[docbets]

03:56 AM on 11/05/2010

The President has lost his mind.

[Beyrak]

02:56 AM on 11/05/2010

"The government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it."
Ronald Reagan

[Apov]

02:55 AM on 11/05/2010

At his peril.

Can't support increase in national debt.

[ccurtis]

02:40 AM on 11/05/2010

Well what is he going to do if the wealthy get to keep their tax cuts, target lower middle income people without children? They were the easiest target in the past for tax hikes and are demographic Republicans want to push taxes onto because as a rule they don’t vote for them. However, they did vote for Obama in droves. If he does something that causes their taxes to go up they should line up behind his primary opponent.

[rhubardpi]

02:33 AM on 11/05/2010

Obama is not just bending over for McConnell, (Dumpling man), and company he's providing the vasoline and flashlight. Once the military ends DADT Obama will likely resign as Pres and enlist in the military.

[Openmindedguy]

01:48 AM on 11/05/2010

I've been an Obama apologist for two years arguing that he was getting the best legislation he could given the reluctance to go to the cots on filibusters and the Blue Dogs. Now that that has clearly not worked it's time to give the Repugs he!! Where's Harry?

[Sean Thomas]

01:45 AM on 11/05/2010

Obama should treat the wealthiest tax cuts like he should also treat Afghanistan Iraq war.
I want a timetable for permanent withdrawl on both fronts

If we are serious about deficit control then we can't be wasting money on things that aren't useful to us when education and infrastructure are languishing.

[flabingo]

01:40 AM on 11/05/2010

They must have a picture of Obama in bed with a nine year old boy. Nothing else makes sense