Middle-class tax cut is locked in place for the next two years as a part of the stimulus package Obama signed into law last month.

The administration had tied the revenue raised from cap-and-trade to the Making-Work-Pay tax credit for families – both of which have been brought up as POSSIBILITIES TO BE SCRAPPED  from the Senate and House budget resolution.

“We have two years to figure this out,” Orszag told reporters, pitching the anticipated formation of the President’s Recovery Advisory Board led by Former Federal Reserve Chairman Paul Volker which will examine ways to provide funding for making-work-pay.

In an interview later with ABC News, Orszag said that the changes made to the president’s budget blueprint were inevitable, “Yes, on cap and trade and with regard to making work pay the tax credit that will be there for two years there's going to be some adjustment.  But those were inevitable. There was always going to be some changes made.”

Orszag said of course the administration was aware that not “every single comma, decimal point and period was going to be embodied in the budget resolution,” but the modifications that have been made on the hill – they believe – are slight.

From ABC News:

http://blogs.abcnews.com/politicalpunch/2009/03/obama-budget-ch.html