Obama Blames Republicans for Allowing Temporary Tax Provision in Stimulus Bill to Expire
October 15, 2010
Today, the Associated Press has a fact-checking story relating to Pres. Obama’s attacks on Republicans over education, including a claim that Republicans want to repeal his tuition tax credit, which is set to expire at the end of this year. Here’s the account:
At a campaign event Tuesday night in Washington, Obama said the tuition tax credit “could be repealed if Republicans take over. They’ve already proposed to cut education spending by 20 percent.”
The American Opportunity Tax Credit, worth $2,500 a year, was included in the $814 billion economic stimulus bill Obama signed into law last year. The tax credit is available for the 2009 and 2010 tax years, but is scheduled to expire at the end of this year because of how the law is written. Obama on Wednesday called on Congress to make the credit permanent.
So how does a law that is expiring in just over two months get repealed by a party that’s not in power?
The White House says it would be repealed if Republicans make good on a promise to end the stimulus.
So let’s put in place a tax provision with a set expiration date and blame it on somebody else when it actually does expire and call them the tax hikers. Where have we heard this before?