The progressive left is ramping up pressure on the White House on letting the Bush-era tax cuts for the wealthy expire by using Pres. Obama's own words from his presidential campaign in a new television ad.
The ad is funded by the Progressive Change Campaign Committee and features footage of Obama in Iowa in 2007.
"We will also allow the temporary Bush tax cuts for the wealthiest Americans to expire," Obama said then.
The ad shows the fine line Obama is walking with regard to the tax cuts. He'll face significant criticism from the left -- much of his base -- if he supports extending the tax cuts for the wealthiest Americans.
But Obama stands to draw perhaps more criticism if he can't reach an agreement with congressional Republicans on where to draw the income line for extending the tax cuts. The tax cuts are set to expire at the end of the year.
Recent polling suggests a majority support extending at least the tax cuts for the middle class, but Republicans have repeatedly called for extending them all. At this point there doesn't appear to be a clear compromise between the White House and congressional Republicans on the issue.
In fact, Republicans on Wednesday circulated a letter indicating that they will block all Democratic initiatives in the lame duck session until the Bush tax cuts and government spending are addressed.
The ad will air for one week on cable in Washington and the group may extend the ad buy if it is able to raise money off of it. Check it out below.
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