Watch live as President Obama calls for an extension of the Bush tax cuts only for those making $250,000 or less.
Here is the live video stream. The will speak at 11:50 AM:
Obama’s proposal is a challenge to several members of his own congressional delegation who are siding with Republicans in supporting a one year extension of the Bush tax cuts for millionaires. The White House tipped their hand yesterday when Robert Gibbs said that Obama was opposed to any extension of the Bush tax cuts for the wealthy.
The question is will congressional Democrats, who are more worried about reelection and holding off a barrage of super PAC ads have the guts to side with the president?
Update (12:05 PM ET): The president is running late so if you just got here, Obama hasn’t spoken yet, but he is expected to speak shortly.