Romney Responds To Obama's Tax Cut Pledge

By: CNN Posted By Doug Brown
By: CNN Posted By Doug Brown

(CNN) – Responding to the president's expected call to extend the Bush-era tax cuts for those earning less than $250,000, Mitt Romney's campaign pointed to the implied tax hike for those making more than the stated threshold.

"President Obama's announcement this morning will mean a tax increase for millions of families, job creators, and small businesses," Romney spokeswoman Andrea Saul said in a statement.

Obama will urge Congress to pass a one-year extension on the tax breaks Monday at the White House, a call his re-election campaign said "will amplify the president's message on middle-class tax cuts."

The president, however, has long said he will oppose extending the tax cuts for the wealthy.

On Sunday, a top campaign adviser said Obama was entirely dedicated to ending the so-called Bush tax cuts for the wealthy at the end of this year.

"He is 100% committed to it," Robert Gibbs said on CNN's "State of the Union."

Obama signed a bill in 2010 to extend the Bush-era tax cuts, citing the need for economic stimulus at the time, but has since vowed he would not permit another extension.

In her statement Monday, Saul added: "Governor Romney knows that job-killing tax increases will hurt our troubled economy even further, and he has a plan to lower the rates and broaden the base without increasing the deficit to encourage investment and job creation. Please see below for a quote from me."

– CNN's Jessica Yellin and Ashley Killough contributed to this report.

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