Obama expected to urge tax increase - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Obama expected to urge tax increase

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President Barack Obama will give a much-anticipated speech tomorrow (Wednesday). In it, he will lay out his plan to break Washington's addiction to borrowing.

President Obama is likely to say the words "tax increase". He is expected to bring back his recommendation to end Bush-era tax cuts for households earning more than $250,000 a year.

Experts say any comprehensive deficit-reduction plan must include a mix of spending cuts and tax increases.