Some Republicans open to idea of tax increases in deficit reduction deal
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Some leading Republicans are indicating they might be open to tax increases as part of a larger deal as Congress faces a deadline to cut the federal deficit by at least $1.2 trillion.
Congressman Paul Ryan (R-Wisc.) told NPR that he believes “you can get higher revenue through tax reform and economic growth.”
Buck McKeon (R-Calif.) told the Christian Science Monitor that he doesn’t want to have to choose between a tax hike and cutting defense spending.
And Representative Jeff Flake, (R-Ariz.) says he is open to abolishing some tax deductions, like the one for ethanol producers. Their stance is opening up a widening debate with the Republican party over taxes, deficits, and economic growth.
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