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Portfolio > Economy & Markets > Fixed Income

GOP retreat on taxes likely if Obama wins

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Republicans are not giving up the fight, but they are starting to plan for the possibility that President Obama will win in November. A win for Obama means taxes will be going up for household incomes of more than $250,000 and the Republicans have no leverage to stop it. Therefore, the GOP is considering a compromise to let taxes increase in exchange for concessions on some of their priorities.