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The Boston Globe


Timothy Geithner, GOP dig in on tax rates

Far apart on hike for the wealthy

WASHINGTON — Treasury Secretary Timothy F. Geithner defended President Obama’s proposals for long-term deficit reduction on Sunday and insisted that Republicans were blocking compromise by refusing to let the George W. Bush-era tax cuts for wealthy American expire as scheduled on Dec. 31.

Obama and Democratic lawmakers want to extend the tax cuts on annual household income below $250,000 but not for income above that level, as the president vowed in his reelection campaign.

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