Bush repeats support of tax cuts

NEW YORK (CNNMoney.com) -- In an opinion column published Wednesday President Bush vowed to work with the new Democrat-controlled Congress, but argued again for his long-held agenda on issues, including extending tax cuts.

The column, published in the Wall Street Journal, also asked the new Congress, which takes office Thursday, to approve a line-item veto, which would let the president strip out spending on specific items approved in legislation without vetoing the entire piece of legislation.

And while saying he would soon announce a new strategy for fighting the war in Iraq, he reiterated his past position that U.S. forces must stay there until the attacks by insurgents ends. "We now have the opportunity to build a bipartisan consensus to fight and win the war," he wrote.

Bush said that he has been encouraged by the productive meetings with the new Democratic leadership and he's hopeful of finding common ground. But he said there would be stalemate between Congress and the executive branch if the Democrats "pass bills that are simply political statements."

Bush did not mention a minimum wage increase or negotiating lower prescription prices for Medicare recipients, two key items on the Democrats' agenda. The president has previously indicated that he's willing to work with the new Congress on the minimum wage issue.

Congress extends expiring tax breaks