Obama: Bush Tax Cuts For Wealthy Will Not Be Extended, Period BOARD AIR FORCE ONE -- The White House is insisting President Barack Obama will not extend the Bush-era tax cuts for wealthier Americans â even temporarily. Obama spokesman Jay Carney said the president has been clear in his opposition to extending tax cuts for households with annual incomes above $250,000. Tax cuts for people of all incomes are due to expire at year's end. Carney's stand came after former President Bill Clinton caused a political headache for the White House by suggesting in an interview that tax cuts for people of all incomes â including the rich â should be extended into 2013 to avoid economic harm and allow time for a broader fiscal deal. Pressed directly on whether Obama would support a temporary extension, Carney said: "He will not. Could I be more clear?"