Since the republicans made major gains in the recent election, president Obama has decided to start making a few deals with the other side. The latest deal that could be in the works is taxes. The Bush administrations tax cuts will expire soon and many want to extend the cuts for years to come.
The tax cuts are scheduled to end in January. The cuts will affect nearly every American including the richest Americans. Republicans have argued that the tax hike will hurt small businesses and put a damper on the struggling economy. We’ll have to wait to see the outcome of this important issue.