Close Close

Financial Planning > Trusts and Estates

BP to Discuss CEO Hayward's Exit; Geithner Says to Let Tax Cuts End

Your article was successfully shared with the contacts you provided.

“The details are being worked out,” one source said.

Treasury Secretary Timothy Geithner said Sunday, July 25, that the economy was not likely to slip back into recession but letting tax cuts for the wealthiest Americans expire was necessary to show commitment to cutting budget deficits. In appearances on several Sunday talk shows, Geithner said only 2% to 3% of Americans — those making $250,000 or more a year — would be affected when tax cuts enacted under President George W. Bush ended on schedule this year.