Biden: GOP Tax Cut Claims a 'Bunch of Malarkey'

By Staff | August 25, 2010 | 2:46 PM EDT

Vice President Joe Biden greets workers at Pete's New Haven Style Apizza restaurant in Washington, Wednesday, Aug. 25, 2010, before holding a discussion about the economy. (AP Photo/Charles Dharapak)

Washington (AP) - Vice President Joe Biden says Republican assertions that small businesses would suffer if all of the expiring Bush tax cuts aren't extended are a "bunch of malarkey."
 
A series of sweeping tax cuts enacted under President George W. Bush are set to expire in January.
 
The Obama administration wants to renew only those tax breaks that affect middle-class and lower income taxpayers, those with incomes under $250,000. Republicans want the tax cuts extended for all wage-earners.
 
Biden said Wednesday that few small businesses would benefit if the tax cuts are extended for everyone. Doing so, he said, would cost $700 billion, worsen the nation's already dire financial situation and, in his words, is "just bad economic policy."
Vice President Joe Biden says Republican assertions that small businesses would suffer if all of the expiring Bush tax cuts aren't extended are a "bunch of malarkey."