BUSINESS

Obama's Tax Cut Deal May Be A 'Back-Door Stimulus Plan'

02/07/2011 05:12 am ET | Updated May 25, 2011

Mr. Obama effectively traded tax cuts for the affluent, which Republicans were demanding, for a second stimulus bill that seemed improbable a few weeks ago. Mr. Obama yielded to Republicans on extending the high-end Bush tax cuts and on cutting the estate tax below its scheduled level. In exchange, Republicans agreed to extend unemployment benefits, cut payroll taxes and business taxes, and extend a grab bag of tax credits for college tuition and other items.

Read more on nytimes.com

Suggest a correction