WASHINGTON (AP) -- President Barack Obama will speak today about the need for Congress to renew middle-class tax cuts before they expire at year's end. He'll be joined at the White House by middle-class Americans who would see their taxes go up.
The White House plan includes allowing taxes on the wealthy to rise while extending tax cuts for families earning $250,000 or less.
The administration plans to promote #My2K on Twitter and other social media -- a reference to the estimated $2,200 tax increase that a typical middle-class family of four would see if the Bush tax cuts expire.
Later Wednesday, the president and business leaders will discuss ways to keep the economy growing when they meet in the White House.
CEOs scheduled to meet with the president include Home Depot's Frank Blake, Coca-Cola's Muhtar Kent and Comcast's Brian Roberts. The agenda will include finding a balanced approach to reduce the nation's deficit.
President Obama isn't the only one planning to try to build public support for his position. House Republicans are planning to hold events in the coming weeks with small businesses in their districts, to highlight the effect that tax increases could have on small businesses and their employees.
Congressional Democrats and Republicans are warning that the impending tax increases and spending cuts set for January could harm the nation's economic recovery, but an agreement still seems far from certain.