Chris Van Hollen: The House May Vote on Tax Cuts Thursday



reuters

The House of Representatives may vote Thursday on a measure to let income tax rates to rise for the wealthiest 2 percent of U.S. households, a top Democrat said Tuesday.

"Things can change but we are talking about Thursday," Representative Chris Van Hollen, a member of the Democratic leadership, said after meeting with other lawmakers.

Lawmakers are scrambling to reach a deal before the end of the year to delay expiration of tax cuts enacted under former President George W. Bush. Democrats want extension of lower rates for income up to $200,000, while Republicans want lower rates for income above that amount to be extended as well.Earlier Tuesday, congressional leaders met with President Barack Obama, where they agreed to form a working group to resolve the issue.

"It was very positive in the spirit of moving forward and doing so in a way that helps to create jobs, reduce the deficit and lower taxes for the middle class," House Speaker Nancy Pelosi said after the meeting.