By Jeanne Sahadi
NEW YORK (CNNMoney) — It won’t happen without a fight — potentially a really ugly fight. And it may even push the country over the fiscal cliff for a time.
But now that President Obamahas been re-elected, and Democrats have retained control of the Senate, there’s a far greater chance that high-income households will soon face higher tax bills.
“It seems likely,” said Republican tax lobbyist Ken Kies of the Federal Policy Group. “I can’t imagine President Obama will agree to extend the Bush tax cuts for everyone.”
Indeed, senior administration officials have said that the president would veto any package that extends them for high-income taxpayers. (Related: California OKs tax hikes)
But that doesn’t mean House Republicans will back down on their insistence that no one’s tax rates go up.
On Wednesday, House Speaker John Boehner held fast to the Republican line.