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Obama: Pressing ahead on taxes

The New York Times: “President Obama and Congressional Republicans pressed ahead on Monday with politically charged proposals on tax cuts and health care, in competing efforts to frame the election-year debate. But each risked opening fissures in their own ranks, as lawmakers played up alternatives to the aggressive approaches of their leaders... The divisions underscored the stakes for the president and the Republicans as they battle for control of the political debate — each choosing as their weapon a complex public policy issue with broad ripple effects. With four months left until Mr. Obama and Congress face the voters, these choices have become even more fraught, as lawmakers worry about alienating people who like expanded health coverage or tax cuts.”

“Barack Obama promised voters four years ago that he would work to slow the outflow of American jobs to other countries, proposing to revamp a federal tax code that encourages companies to maintain overseas operations,” the Washington Post reports. “Obama as president has continued to call for rewriting the rules that allow U.S. corporations to avoid paying taxes for a time on income generated overseas. But the tax changes have not happened.”

The Des Moines Register: “The American Future Fund, the Iowa-based super PAC supporting Republican political candidates, is out with a new 1-minute web ad, timed to coincide with President Barack Obama’s visit to Cedar Rapids on Tuesday. The ad offers a harsh assessment of Obama’s term in office, criticizing several of his policy efforts — like the economic stimulus package, the auto-industry bailout and health-care reform — as expensive, ineffective and potentially harmful. But it does not support any specific Republican candidates or even reference the upcoming election; rather, it instructs viewers to call the White House to tell Obama to “stop the spending.”

“While the Romney campaign and the Republican National Committee begin their counteroffensive on outsourcing today, Team Obama is continuing to grind away on the issue of Mitt Romney’s personal finances,” Politico reports.