Lawmakers Take First Whack at Obama Budget Plan

WASHINGTON -- President Barack Obama's proposed tax increases are being met with misgivings by both Republicans and Democrats in Congress as he sends his Treasury secretary to Capitol Hill to defend them.

Lawmakers in both parties question Obama's call to reduce high-income earners' tax deductions for the interest on their house payments and for charitable contributions. Also drawing fire is his proposal to start taxing industries on their greenhouse gas pollution -- a move sure to raise consumers' electric rates.

Obama and his top aides have been promoting the budget package since unveiling an outline last week, but Tuesday will provide the lawmakers their first opportunity to publicly question top officials about the details.


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