WASHINGTON — President Barack Obama plans to make a public case this week for his strategy for dealing with the looming fiscal cliff, traveling to the Philadelphia suburbs Friday as he pressures Republicans to allow tax increases on the wealthy while extending tax cuts for families earning $250,000 or less.
The White House said Tuesday that the president intends to hold a series of events to build support for his approach to avoid across-the-board tax increases and steep spending cuts in defense and domestic programs. Obama will meet with small-business owners at the White House on Tuesday and with middle-class families Wednesday.
The president’s visit to a small business in Hatfield, Pa., that makes parts for a construction toy company will cap a week of public outreach as the White House and congressional leaders negotiate a way to avoid the tax increases and spending cuts scheduled to take effect Jan. 1. The trip will mark Obama’s first public event outside the nation’s capital since winning re-election.
Both sides warn the so-called fiscal cliff could harm the nation’s economic recovery, but an agreement still appears far from assured. The White House and congressional Republicans have differed on whether to raise revenue through higher tax rates or by ending certain tax provisions and deductions.
House Speaker John Boehner, R-Ohio, has pushed for raising additional revenue through the reducing of tax loopholes instead of raising tax rates on wealthy Americans. The White House has countered that the president will not sign legislation that extends current tax rates to the top 2 percent of income earners, or those households with incomes over $250,000.