Obama calls for middle-class tax cut extension

WASHINGTON (MarketWatch) - President Barack Obama called Friday for the House of Representatives to swiftly pass an extension of middle-class tax cuts for Americans earning under $250,000. Pointing out that the Senate has already passed the measure, Obama pulled out a pen and said he would sign the extension if the House acts. In a five-minute statement from the White House, Obama offered to compromise but also dug in on his key positions, mirroring statements from congressional leaders earlier this week. Obama said that any deal on the fiscal cliff must include higher taxes on the wealthy. Obama invited Republican and Democratic congressional leaders to come to the White House next week.