Obama says could lower top tax rates next year -BBG

WASHINGTON Tue Dec 4, 2012 1:04pm EST

Related Topics

WASHINGTON Dec 4 (Reuters) - President Barack Obama said on Tuesday that while tax rates must go up for a "fiscal cliff" deal, it may be possible to lower rates at the top end of the scale late next year as part of tax reforms that would close loopholes and limit deductions.

"Let's let those go up," Obama told Bloomberg in an interview, referring to tax rates for the wealthiest Americans.

"And then let's set up a process with a time certain, at the end of 2013 or the fall of 2013, where we work on tax reform, we look at what loopholes and deduction both Democrats and Republicans are willing to close, and it's possible that we may be able to lower rates by broadening the base at that point."

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.