Login or Register
Welcome , Settings |  Logout

Senate Republicans Said to Discuss Tax Cut Fallback Proposals

Friday, 14 Dec 2012 01:30 PM

 

Share:
More . . .
A    A   |
   Email Us   |
   Print   |
Senate Republicans are discussing a legislative strategy to break the U.S. budget stalemate that would let Congress extend tax cuts for all except the highest income levels, said two Republican aides who spoke on condition of anonymity.

The Republican-controlled House would vote on two separate bills, the aides said Friday. One would extend tax cuts at all income levels. That would have wide support among Republicans though President Barack Obama has said he won’t accept it.

The other bill would allow tax cuts for top earners to expire. Democrats would support that plan and Republicans would be likely to provide enough votes to pass it in the House, one aide said. The Democratic-controlled Senate would pass and send that measure to Obama, the aide said.

Such an approach would let Republicans go on record in support of their proposal even as enough of them would join Democrats to pass Obama’s plan.

Obama and House Speaker John Boehner haven’t reached an agreement that would incorporate tax-cut extensions into a broader budget deal. If Congress doesn’t act, more than $600 billion in tax increases and spending cuts will take effect starting in January.

Boehner hasn’t ruled out extending tax cuts for all except the top earners, though he has insisted that all tax reductions should be extended.

Don Stewart, a spokesman for Senate Minority Leader Mitch McConnell of Kentucky, said in an e-mail Friday that “Republicans will continue to look for ways to protect American families and jobs while strengthening entitlement programs and continuing to advocate for the types of intelligent reforms in Washington spending that the president has yet to propose.”

McConnell “does not advocate raising taxes on anybody or anything,” Stewart said.

© Copyright 2013 Bloomberg News. All rights reserved.

Share:
More . . .
   Email Us   |
   Print   |
Around the Web
Join the Newsmax community.
Register to share your comments with the community. Already a member? Login
Note: Comments from readers do not necessarily reflect the viewpoint of Newsmax Media. While we attempt to review comments, if you see an inappropriate comment you can block it by rolling over the comment, clicking the down arrow and selecting "Flag As Inappropriate."
blog comments powered by Disqus
 
Email:
Country
Zip Code:
 
You May Also Like
Around the Web
 
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved