U.S. Sen. Tim Johnson says he supports extending tax cuts only for small businesses and families of modest incomes, The Associated Press reports.
The South Dakota Democrat said he is open to extending tax cuts for families who earn less than $250,000 a year and for small businesses. But he says he is reluctant to expand tax cuts for the wealthy because it would increase the federal deficit.
Congress is considering whether to extend a variety of tax cuts passed early in George Bush’s presidency. Johnson says Congress can only deal with the expiring tax cuts if minority Republicans cooperate with the Democratic majority.
