CBO Report: Tax Hikes Will Slow--But Not Kill--Growth: On Thursday, the Congressional Budget Office (CBO) released a report that said letting the Bush tax cuts expire for those individuals making more than $200,000 and couples making more than $250,000 would not kill economic growth. The CBO also concluded that extending the Bush tax cuts for all income levels would allow the economy to grow at a slightly faster pace.
President Barack Obama and Democrats have insisted on letting the Bush tax cuts expire for those in the highest income brackets even if it means taking the country over the so-called fiscal cliff, and Republicans said the CBO report confirmed not extending the Bush tax cuts for everyone would lead to fewer jobs.
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