The Wall Street Journal News Alert
Obama to Propose Tax Increases on Investments, Inherited Property
President Barack Obama will call on the new Republican-led Congress to raise taxes on investments and inherited property and to create or expand a range of tax breaks for middle-income families, laying out an opening position in a debate over taxation that both parties see as a potential area of compromise.
Mr. Obama will outline the measures in his State of the Union address Tuesday night. He will propose using revenue generated from the tax increases--which would fall mainly on high-income households--to pay for a raft of new breaks aimed at boosting stagnant incomes for low- and middle-income households.
Your Prez at work......tb
