About 7.6 million middle-class Florida families will pay higher income taxes next year unless the nation’s leaders strike a deal to avoid the so-called fiscal cliff, the Obama administration warned on Thursday.
Compiled by the National Economic Council, an arm of the White House, the report is designed to raise public alarm and put pressure on Congress to extend lower tax rates for the middle class, which expire Dec. 31.
Republican leaders also want to extend tax rates that were reduced temporarily during the presidency of George W. Bush. But they want to continue lower tax rates for the rich as well as the middle class, which they say will boost the economy and prompt businesses to grow and create jobs.
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