Tags: Roskam | tax | hike | cliff

Rep. Roskam: Tax Hike Is 'Not Going to Happen'

Monday, 12 Nov 2012 07:55 AM

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Lawmakers will steer the country away from the fast-approaching fiscal cliff, but any compromise won't involve tax hikes of any kind, said House Chief Deputy Whip Peter Roskam, R-Ill.

At the end of this year, the Bush-era tax cuts and other benefits are due to expire at the same time automatic cuts to government spending are scheduled to kick in, a combination known as a fiscal cliff that could send the country sliding into a recession if left unchecked by Congress.

On his presidential campaign, President Barack Obama expressed a willingness to keep tax cuts in place for most Americans, but hike taxes on wealthy Americans, a plan Roskam branded as “flowery rhetoric that he used to pump up his base.”

Editor's Note: The Truth About the Economy — Government Documents Lead to Eerie Conclusion

“I predict he will do it again, simply because the House is not going to pass a tax hike,” Roskam told CNBC.

“It’s just not going to happen.”

Neither Republicans nor Democrats want to see the country go over the fiscal cliff and compromise could see deficit-reduction measures likely by reforming entitlement programs like Medicare and Social Security.

“I think what’s got to happen is both sides have to let the other team take a little bit of a victory lap,” Roskam said.

“So, let Republicans come into this debate where we keep tax rates low and reasonable and predictable and drive toward tax reform next year. Democrats can come into the debate and claim a victory and say, ‘Well, we’re interested in more revenues.’ The key is, can we get to these underlying situations, and that is entitlement reforms.”

Meanwhile, expect Obama to extend the Bush-era tax cuts for all Americans.

“It’s realistic and here’s why: President Obama in December of 2010, this exact same time, extended these rates one time already,” Roskam said.

“The best predictor of future behavior is past behavior.”

Senate Republicans, meanwhile, echoed similar sentiments: compromise will not involve tax hikes even though Democrats retained control of the White House and the Senate.

"I know some people out there think Tuesday’s results mean Republicans in Washington are now going to roll over and agree to Democrat demands that we hike tax rates before the end of the year," Senate Minority Leader Mitch McConnell, R-Ky., told Breitbart News.

"I’m here to tell them there is no truth to that notion whatsoever."

Editor's Note: The Truth About the Economy — Government Documents Lead to Eerie Conclusion

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