Roskam: President's Tax Hike Will Not Make Fiscal Problems Go Away
Roskam talks about House Republican proposal to aver the fiscal cliff.
U.S. Rep. Peter Roskam (IL-06( Sunday appeared on Bloomberg's Capital Gains to discuss the House Republican proposal to avert the fiscal cliff. Tax Increases Do Not Solve the Debt Problem There is an expectation that the president has created that simply letting the top two percent tax rates go up will make the problem go away, Roskam said. The president's own architecture on this was a three-one ratio [of cuts to revenue], and up until now he insisted on new spending. For three weeks there was a focus from the White House to talk about only twenty five percent of this deal. "But what has largely been absent? Where are the spending cuts? Where are the savings?" "My sense is that the polling changes very, very quickly if they …
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Frank Palmer
4:37 pm on Tuesday, December 11, 2012
The $1.6 trilliion isn't a new number. That was proposed in the last budget message. It seems to me that Representative Roskam needs to suggest where he sees the opportunity for cuts instead of faulting the president for not being specific. Anyway, if the deal isn't reached, the tax goes back to the levels before the last cuts. more ›