Obama tax plan: Middle-class credits, increases for rich

Washington (CNN) – In his upcoming State of the Union speech, President Barack Obama will call on Congress to simplify a tax code he deems overly complicated and weighted toward wealthy Americans, administration officials said Saturday.

The moves — likely to meet resistance from Republicans in Congress — are meant to pay for the long slate of new programs the President began laying out two weeks ago designed to bolster the middle class, including offering two free years of community college to qualified students.
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Source News: CNN
Photo: REUTERS/Kevin Lamarque