video transcript

Laying the groundwork for a compromise. In Washington. US president Barack Obama in his first weekly radio address since Democrats suffered big losses in Tuesday's congressional elections. Reasserted that bush era tax cuts should be made permanent by the middle class before they expire at the end of the year. Let's start where we agree. All of us want certainty for middle class Americans. None of us want them to wake up on January 1 with a higher tax bill. And that's why I believe we should permanently extend the bush tax cuts for all families making less than 250000 dollars a year. It's 98%. Of the American people. With congress expected to return mid November. Obama spelled out his tax agenda. I recognize that both parties are gonna have to work together and compromise to get something done here. I wanna make my priorities clear from the start. 10 middle class families need permanent tax relief. And two I believe we can't afford to borrow and spend another 700 billion dollars on permanent tax cuts for millionaires and Bill Ayers. It was the latest sign that Obama might give ground in the high stakes tax battle which could test the new dynamic in Washington. after Republicans won control of the House of Representatives. The weekend Democrats senate majority. Deborah Lutterbeck Reuters call.