Obama to push against extending Bush-era tax cuts for the rich

President also plans to pitch tax breaks for businesses, infrastructure plan.

Pablo Martinez Monsivais / The Associated PressPresident Barack Obama gestures as he speaks on the economy at the Milwaukee Laborfest in Milwaukee, Monday, Sept. 6, 2010. He plans to talk about three major economic initiatives today in Ohio.

From The Washington Post:

President Obama will argue personally Wednesday against extending the Bush-era income tax cuts for the nation's wealthiest families even for a year or two, White House officials said Tuesday - a message aimed at wavering Democrats who have been swayed by arguments that the economy is too weak to raise anyone's taxes.

In a speech scheduled for delivery Wednesday afternoon in Cleveland, Obama will restate his long-held position that the nation cannot afford to extend tax cuts for the wealthiest 2 percent of families, White House officials said.

Obama also plans to advocate for a trio of economic initiatives today in Ohio, The Associated Press reports:

• A $50 billion infrastructure investment to rebuild and repair the nation's roads, railways and runways.
• A permanent extension of research and development tax credits for businesses.
• Tax breaks to let businesses quickly write off 100 percent of their spending on new plants and equipment through 2011.

» `Invitation to arbitrage' seen in Obama's accelerated tax write-off plans [Bloomberg]

» Obama transportation plan likely to have to wait [The Washington Post]