WASHINGTON – The White House says President Barack Obama would veto two bills that would make permanent certain tax provisions because they would add to the deficit and not be paid for.
Continue Reading Below
The White House budget office says a bill that would make permanent expanded expensing for small businesses and tax breaks for S-corporations would add $79 billion to the deficit over the next decade. The second bill would permanently extend enhanced tax breaks for certain donations, also without offsetting the cost.
The administration argues that provisions in the budget proposal Obama sent Congress this month are better alternatives to the bills moving through the Republican-controlled House.
The White House says senior advisers would recommend that Obama veto the bills if they clear Congress and land on his desk.