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WASHINGTON – President Barack Obama’s top economic officials on Tuesday vigorously defended tax hikes in the administration’s $3.6 trillion budget against Republican claims that they would affect nearly all Americans.
Treasury Secretary Timothy Geithner and White House Budget Director Peter Orszag, in separate appearances on Capitol Hill, stuck to the administration line that the president’s budget would benefit 95 percent of working Americans.
Higher taxes for affluent Americans would not come until 2011 once “we are safely into recovery,” Geithner told the tax-writing House Ways and Means Committee.
“I’m confident this is the right path for the country,” Geithner said.
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