Marc Gerson Comments on Obama's Re-election Coinciding with the Upcoming Fiscal Cliff in Bloomberg BNA Daily Report for Executives

"Election Offers Sense of Direction For Tax Fight, if Not Certainty on Policies"
Bloomberg BNA Daily Report for Executives
11.08.12Marc Gerson commented on the possible decisions lawmakers will make regarding the fiscal cliff in light of election results.  The re-election of President Obama, paired with Democratic gains in Congress, is seen as offering at least a sense of direction for how lawmakers will deal with the expiration of the 2001 and 2003 tax cuts, even if it falls short of providing any real certainty about policy.  "It is important to recognize that a major component of Obama's economic platform was for top tax rates to be allowed to expire," Gerson said.  "If the administration views the election as a mandate of this position, it will complicate the negotiations with House Republicans, who may very well view the election as a mandate of their own position that the Bush tax cuts should be extended for all taxpayers."
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