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So why is extending the cuts still contentious?
Most Democrats favor extending the cuts for households making less than $250,000 a year.
Republicans say extending the cuts will spur economic activity, but that is hardly guaranteed.
Supporters of extending the cuts for everyone argue that raising taxes on any group, particularly one considered crucial for creating jobs, could endanger a precarious economic recovery.
The president's argument against extending the cuts for the wealthiest has now been reduced to the dry accounting of what the cost would add to the federal deficit.
One of them, Joseph I. Lieberman, the Connecticut independent who caucuses with the Democrats, called on Monday for extending the cuts at all income levels, for a year.
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I'm for ending it". Representative James Lankford, Republican of Oklahoma, said that he was open to extending the cut, but had deep concerns and would need convincing.
As president, Mr. Obama reluctantly extended the cuts as part of a deal with Congress.
Now, despite giant deficits, Bush wants to extend the cuts anyway at a cost of $231 billion a year.
He called again on Congress to go ahead and extend the cuts now for income under that level.
And if we extend the cuts for a fifth year, I fear that they could become permanent.
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