Obama Says Sequestration Deal Must Include Higher Taxes

Law360, New York (November 9, 2012, 3:44 PM EST) -- President Barack Obama on Friday reiterated his demand for higher taxes for the wealthiest Americans as part of any replacement for upcoming automatic budget cuts, setting the stage for a renewed fight with Republican lawmakers who said yesterday that they would oppose higher tax rates.

In his first post-election address, Obama invited congressional leaders to a White House meeting to lay the groundwork for negotiations on the “fiscal cliff,” a series of across-the-board budget cuts and expiring tax cuts set to begin Jan. 1. Republican leaders...
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