WASHINGTON (AP) - President Barack Obama says his budget marks "a new era of responsibility," but Republicans are calling it a "missed opportunity."
Obama says the multi-trillion-dollar spending plan will deliver both middle class tax cuts and expand health care. But New Hampshire Sen. Judd Gregg says it "fails to make any tough choices to control the deficit."
Couples making more than a quarter of a million dollars would see their tax rates return to 39.6 percent under President Barack Obama's budget proposal. But it would also make permanent the $400 tax break most workers are getting through the economic stimulus, as well as the expanded $2,500 credit for college expenses.