WASHINGTON — As lawmakers return Monday and resume talks on the fiscal cliff, Republicans are continuing to firmly oppose raising taxes to drive new revenue.
The question of new revenue is the chief sticking point as talks move forward to prevent $500 billion in spending cuts and tax increases from taking effect at the end of the year. Democrats have advocated letting a tax cut expire for the wealthiest 2% of Americans; meanwhile, Republicans have insisted that any revenue must come only from reforms to entitlement programs and by closing tax loopholes.
“The ‘fiscal cliff’ would hurt our economy and cost jobs,” said one House Republican leadership aide. “Congressional and White House staff continue to work to find common ground that is consistent with the ‘balanced approach’ the White House says it wants — with significant spending cuts, and without job-killing small business tax hikes.”
Discussions are ongoing between White House and congressional staff, but another meeting between the president and leaders in Congress has not yet been scheduled, the aide said.
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- ekam thinks Republicans Standing Firm On Taxes In... is LOL
The President can do nothing and the prior tax cuts will expire and automatic spending cuts will kick in. Let those things happen, and then negotiate a tax rate cut for those individuals making less than $250K per year. The Republicans have zero leverage. Also, the prior tax cuts were designed to expire. They were not meant to be permanent.
The same old thing….republicans will wreck this economy because they are too selfish to do the right thing. They forget that Obama won on this platform of raising taxes on the wealthiest Americans. Who the hell do they think they are. Obama was very upfront about his intentions. If America did not want this to happen…they would have voted for Romney…right? I rest my case.
- Republicans Standing Firm On Taxes In... was rebuzzed by Donna Dickens
- samm27 thinks Republicans Standing Firm On Taxes In... is Fail