Obama Calls on House to Act on Tax Cuts

 U.S. President Barack Obama has called on Republicans in the House of Representatives to vote what he says is "the right way" on tax cuts. 

In his weekly address Saturday, Obama urged Republicans to stop holding tax cuts for middle class families and small business owners "hostage." He says Republicans refuse to take such action until cuts are also extended to the wealthiest Americans.

The Senate passed a tax plan this week protecting middle class Americans and small business owners from being hit with a big tax hike next year.  Now that plan needs to pass in the House to go into effect.

President Obama said the Republican approach to a more prosperous nation – trillions of dollars in tax cuts for the wealthy – does not work because he said "we already tried it that way for most of the last decade."  He said those tax breaks "helped take us from record surpluses to record deficits¹."

Senator Orrin Hatch in the Republican address said the president and his allies should stop holding America's economy hostage because Republicans do not agree with their plan to raise taxes on "one of the most productive segments of our economy."

1 deficits   

n.不足额( deficit的名词复数 )；赤字；亏空；亏损

参考例句：

• The Ministry of Finance consistently overestimated its budget deficits. 财政部一贯高估预算赤字。 来自《简明英汉词典》
• Many of the world's farmers are also incurring economic deficits. 世界上许多农民还在遭受经济上的亏损。 来自辞典例句