Middle-Class Tax Cut Extensions Expected to Stay on Hold Until Fall

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Congressional consideration of an extension of $3 trillion in expiring tax cuts is likely to be put off until after the August recess, White House spokesman Robert Gibbs says. President Obama called on Congress to extend all of the 2001 and 2003 tax cuts for households earning less than $200,000 per year ($250,000 for married couples). House Ways and Means Chairman Levin planned to bring the legislation to the floor before the August recess, but legislative action in the Senate has been slow. 

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