Obama pushes one-year extension for middle-class tax cuts

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U.S. President Barack Obama called on Congress Monday to pass a one-year extension of the Bush- era tax cuts for Americans earning less than 250,000 a year, renewing tax debate and drawing battle lines with the Republicans.

"We need policies that grow and strengthen the middle class, policies that help to create jobs, that make education and training more affordable, that encourage businesses to start up and create jobs right here in the United States," Obama made the statement at the White House, surrounded by people who would benefit from the extension.

"That's why I believe it's time to let the tax cuts for the wealthiest Americans, folks like myself, to expire," he said, seeking to eliminate the lower rates for the upper-income earners.

His proposal put him at odds with Republicans who have long insisted that the Bush-era tax cuts should be extended for everyone, including the top earners.

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