Leading Republicans and Democrats rejected President Barack Obama's plan to let Bush-era tax cuts expire for those making $250,000 or more a year on Monday, making the president's proposal increasingly difficult to pass.
Obama's plan would extend former President George W. Bush's tax cuts, set to expire at the end of 2010, for the 98 percent of taxpayers with a household income of $250,000 or less.
On Sunday, House Minority Leader Rep. John Boehner (R &- Ohio) told reporters on "Face the Nation" that, although he didn't support Obama's tax plan, he would vote for it if Democrats pushed it through Congress.
However, Republicans said on Monday that they unilaterally opposed the plan unless Congress also extended the cuts for the wealthiest Americans.
"Only in Washington could someone propose a tax hike as an antidote to a recession," said a statement by Sen. Mitch McConnell (R-Ky.), the senate minority leader. "And this is no small tax hike. The tax hike the administration proposed, according to the IRS, would apply to half of all small business income in this country."
Republicans weren't the only ones opposing Obama's plan.
Sens. Ben Nelson (D &- Neb.) and Joseph Lieberman (I &- Ct.) also said they may vote against any bills that did not extend the tax cuts for all Americans.
"I don't think it makes sense to raise any federal taxes during the uncertain economy we are struggling through," Lieberman said in a statement.
An analysis of the tax cuts by Congress found that extending the tax cuts would cost the federal government $4 trillion over the next decade. Obama's plan would cost the government about $700 billion less.
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