Local & Regional
Wed November 28, 2012
Cole Offers Advice to Party of Fiscal Cliff
WASHINGTON (AP) — The first cracks are developing among Republicans over whether to accept a quick deal with President Barack Obama on allowing the top two income tax rates to expire.
Conservative Oklahoma GOP Rep. Tom Cole has told GOP colleagues that it's better to make sure that tax cuts for the 98 percent of taxpayers who make less than $200,000 or $250,000 a year are extended than to battle it out with Obama and risk increasing taxes on everyone.
His comments drew a rebuke from Speaker John Boehner, who is standing firm against Obama's demand that tax rates go up on individual income exceeding $200,000 and family income over $250,000.
A Cole spokeswoman confirmed comments made to Politico, which first reported them.