GOP Stands Firm; No Tax Increases to Raise Debt Ceiling
It was the Democrats who have not been able to pass a budget. It was President Barack Obama who had seen government expenses grow by 35 percent in two years. This is President Obama’s economy and he has to acknowledge that Congress simply will not pass an increase in the debt ceiling unless government expenditures are cut significantly.
From The Americano
The questions from the different news programs Sunday all targeted Republicans asking if they would insist in rejecting all forms of tax increases in any deal to raise the debt ceiling. Senate Republicans stuck to their point: they will insist on bringing to their members in the House and the Senate a proposal that would have the votes to pass.
Despite insistence from the moderators who wanted Republicans to flat out say they were against any form of tax increases, the GOP leaders insisted in putting their answers into perspective. In December of 2010 an all Democratic Congress with considerable majorities in both chambers could not pass a tax increase to raise the taxes of individuals making more than a million dollars a year.
It was the Democrats who have not been able to pass a budget. It was President Barack Obama who had seen government expenses grow by 35 percent in two years. This is President Obama’s economy and he has to acknowledge that Congress simply will not pass an increase in the debt ceiling unless government expenditures are cut significantly.
Senate Minority Leader Mitch McConnell (R – Ky.) made it very simple for viewers of “This Week” on ABC.
“We have a spending problem. We don’t have a problem because we tax too little,” McConnell said on the ABC program “This Week.”
“We need to quit borrowing, quit spending, and get our trajectory heading in the right direction. Throwing more tax revenue into the mix is simply not going to produce a desirable result, and it won’t pass,” McConnell added.
According to Reuters, the U.S. federal deficit stands at $1.4 trillion, among the highest levels relative to the economy since World War Two.
Speaking on “Fox News Sunday,” Jon Kyl (R – Ariz.) stressed the importance of trying to get a deal by August 2.
“I think the president has to make a decision — which is more important to him: solving this problem, reducing spending somewhat, or making sure that we raise taxes on American economy?” Kyl said.
“If you want to kill the economy, raise taxes. Are we going to vote to absolutely put another anchor around the neck of the economy, which is struggling to try to recover here? Absolutely not. It’s terrible policy,” Kyl added.
Reuters said Democratic leaders have eased back from their insistence that personal income tax rates need to rise on the wealthiest Americans to focus instead on ending a wide range of tax breaks on everything from corporate jets to oil and gas subsidies.
They have also proposed closing tax breaks that benefit the wealthy, such as limiting the deductions for households making more than $500,000 a year.
Republicans are responding that they want a vote on something that will pass Congress and any proposal to raise revenues is a tax hike with a different collar and it simply would not be approved.
Obama will enter into the fray Monday with a separate meeting with Sen. McConnell, and with Senate Majority Leader Harry Reid (D – Nev.).
The Americano/Agencies
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