Obama Tax Cut Deal More Expensive Than Stimulus: CBO

WASHINGTON — President Barack Obama is predicting congressional approval of the tax-cutting compromise he has reached with Republican leaders, but he’s not ruling out that unhappy Democrats will make some changes in the mammoth legisla…

WASHINGTON — President Barack Obama is predicting congressional approval of the tax-cutting compromise he has reached with Republican leaders, but he’s not ruling out that unhappy Democrats will make some changes in the mammoth legislation.

In an interview with NPR released Friday, Obama said that despite a rebellion by many Democrats against his tax deal, it will pass because “nobody – Democrat or Republican – wants to see people’s paychecks smaller on Jan. 1 because Congress didn’t act.”

The pact would extend cuts in income tax rates for all earners that would otherwise expire next month, renew long-term jobless benefits and trim Social Security taxes for one year.

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