Obama is ready to stand firm on "fiscal cliff" legislation, officials say

Obama is ready to stand firm on "fiscal cliff" legislation, officials say

President Barack Obama has vowed to veto any "fiscal cliff" legislation that attempts to extend the Bush tax cuts for the very wealthiest Americans, administration officials said, setting the stage for a postelection showdown with GOP lawmakers. Much could depend on the outcome of the election, with some Republican leaders saying that an Obama victory would constitute a mandate for a fiscal solution including higher taxes on wealthy Americans. The Washington Posthttp://www.washingtonpost.com/business/economy/officials-obama-ready-to-veto-a-bill-blocking-fiscal-cliff-without-tax-hike-for-rich/2012/10/17/64400224-1870-11e2-9855-71f2b202721b_story.html?hpid=z1