| Defections Within the Republican Rank and File |
| Dec-06-2012 |
| Keywords: fiscal cliff, obama, boehner, pentagon, budget, cuts, sequestration |
House Speaker John Boehner's having to contend with possible defections among rank and file Republicans. Some are hinting that they'd be willing to meet the President at least half way on his demand for higher tax rates on the top 2%.
According to a letter obtained by Fox News, "All options for mandatory and discretionary spending and revenues must be on the table," the lawmakers wrote in the letter.
Republican Idaho Rep. Mike Simpson, in an interview with Bloomberg said he'd be open to higher tax rates for married couples with annual incomes exceeding $500,000 in exchange for cuts to entitlement programs.
Amid warnings that deadlock in Washington could send the nation plunging into a buzzsaw of tax hikes and spending cuts next month, some Republicans have started to signal a possible middle ground that could involve tax increases on top earners -- even if they're not as drastic as President Obama wants.
House Speaker John Boehner and other Republican leaders are holding firm to their opposition to tax rate increases as part of any deal to avert the looming fiscal crisis.
Obama until recent stood by his ultimatum that no deal will be struck unless tax rates go up on those making $250,000 and up.
However, the president said in an interview earlier this week with Bloomberg that if Republicans are willing to close certain loopholes and deductions next year, "it's possible that we may be able to lower rates by broadening the base at that point."
That could work to Republican leader's favor. Boehner has already put the possibility of raising revenue by limiting deductions on the table.
Oklahoma Republican Sen. Tom Coburn also said on MSNBC Wednesday that he personally doesn't care how the revenue is raised.
"I don't really care which way we do it. Actually, I would rather see the rates go up than do it the other way because it gives us greater chance to reform the tax code and broaden the base in the future," Coburn said.
Read more about the political maneuvering on Capitol Hill at FoxNews.com. |
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Posted by Lou Dobbs Staff at 11:00 PM Email to a friend |
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