WASHINGTON — President Barack Obama will enter high-stakes budget negotiations firmly committed to seeing the tax rates for high-income earners rise to pre-George W. Bush levels, he assured a gathering of progressive and labor leaders on Tuesday.
“I am not going to budge,” he told the group, according to an attendee who relayed material from the meeting on condition of anonymity. “I said in 2010 that I’m going to do this once, and I meant it.” How the president plans to effect that outcome is still unclear. Top Democrats in the Senate have said they would be comfortable letting all the tax rates expire — as they are scheduled to do — at the end of the year, after which they will put together a tax cut bill that would re-establish the Bush-era rates for incomes below $250,000.