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WASHINGTON — Two senior Republicans said Sunday that they might be open to raising new government revenue as part of a deal to resolve the dispute over the federal debt ceiling, but the warned that there was little time to enact a comprehensive deal.
John Cornyn, Republican of Texas, said that he would consider the elimination of some tax breaks and corporate subsidies in the context of a reform of the tax code, provided that the program did not bring an overall increase in taxes.
“I think it’s clear that the Republicans are opposed to any tax hikes; particularly during a fragile economic recovery,” Mr. Cornyn said on “Fox News Sunday.” “Now do we believe tax reform is necessary? I would say absolutely.”
But he insisted that any such tax reform be “revenue neutral,” meaning that the government would not take in any more money from individuals or businesses than it does now.
WASHINGTON—Republican lawmakers showed some openness Sunday toward the idea of eliminating tax breaks, a crucial step if lawmakers are to reach an agreement on cutting the deficit and break the current impasse over raising the federal debt ceiling.
Republican Sen. John Cornyn of Texas said lawmakers should close some tax loopholes and eliminate breaks as part of a broader effort to cut rates, though he cautioned that there may not be enough time to include such changes in a budget deal now under negotiation.
very lame...
Texas Sen. John Cornyn this morning laid out a long-term political blueprint for bipartisan, comprehensive tax reform, declaring that he could support eliminating some corporate “tax expenditures” as part of a “revenue neutral” deal that lowered overall tax rates.
...............
The San Antonio Republican said there is bipartisan support for “revenue neutral” tax reform that eliminates “tax expenditures” while lowering the rates paid by the vast majority of businesses.
“Our tax code is riddled with a lot of tax expenditures that don’t make sense,” said Cornyn, citing federal subsidies to the ethanol industry as one example of an unjustified corporate tax break.
Interesting. Look what I read today re. the debt ceiling and Repubs.
Republicans May Take
Sounds to me like nobody wants to do anything. Too bad an election is coming up. All talk, no action, while we go down, down, down... Wish they would ALL just do their flippin' jobs.
A spokesman for House Speaker John Boehner, an Ohio Republican, declined to comment on the idea of a short-term deal.
“The speaker has always said that the time is now and our goal is to get the largest possible spending cuts,” Michael Steel, a spokesman for Boehner, said in an interview.
I will not hold it against ANY Republicans, if they show just a wee bit of give on this issue.
Ok, leave the max. FIT rate the same. But at least drop some tax-breaks that are just for millionaires and billionaires.
I know its very hard for the GOPers to compromise at all on these things, so any effort will be appreciated.
I will not hold it against ANY Republicans, if they show just a wee bit of give on this issue.
Ok, leave the max. FIT rate the same. But at least drop some tax-breaks that are just for millionaires and billionaires.
I know its very hard for the GOPers to compromise at all on these things, so any effort will be appreciated.
And let the Democrats agree to some more spending cuts, in exchange.
Yup! Hence my tentative optimism.
We could open up domestic drilling. That's a helluva revenue raiser. You know, people workin', makin' money and stuff.
do they REALLY think they will lose their re-elections if they give on tax-breaks?
on the contrary, if they do that..they may receive some support from Liberals and Democrats if they are faced with a Tea-Bagger challenge in their primaries.
Honestly, any Republican who is willing to compromise on taxes, the deficit, the debt, healthcare, etc...can count on my support in their primary if they face a nutcase Tea-Bagger.
Unless it's a closed primary.
Lame is still lame. Reality is still miles away for these folks.
from apdst
So would selling off the national parks system to developers. :roll:
do they REALLY think they will lose their re-elections if they give on tax-breaks?
on the contrary, if they do that..they may receive some support from Liberals and Democrats if they are faced with a Tea-Bagger challenge in their primaries.
Honestly, any Republican who is willing to compromise on taxes, the deficit, the debt, healthcare, etc...can count on my support in their primary if they face a nutcase Tea-Bagger.
good point - then only the truly crazed wingnuts would be participating.
Actually? I think ensuring Obama fails with the budget/economy is their goal. Then the election is theirs (they think. In reality, they're already being called out on this ****.)
What would those be?
We could open up domestic drilling. That's a helluva revenue raiser. You know, people workin', makin' money and stuff.
Oh wait, we're not really interested in actually generating tax revenue, we just want to raise taxes.
Unless it's a closed primary.
The only thing they have to do to ensure that Obama fails with the budget and the economy is to let him have his way on everything.
well, considering the GOP has fought Obama on every single piece of legislation he has proposed since taking office, there's no danger of that happening.
Is that the best response you can come up with?
Thank God for the GOP, on that score.
I strongly suspect God has nothing to do with the GOP. You need to look in the opposite direction.
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