President Barack Obama has come to a deal with Republicans to extend the Bush-era tax rates at all income levels, National Public Radio reports. They would remain unchanged, even for America's wealthiest.
The deal also includes additional benefits for the unemployed and other tax breaks for the middle class.
"Make no mistake: Allowing taxes to go up on all Americans would have raised taxes by $3,000 for the typical American family," Obama said. "And that could cost our economy well over a million jobs."
The president must now sell the deal to Democrats, who were behind the plan extending only the middle-class tax rate and jobless benefits.
What do you think of the deal Obama has proposed?