| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Democrats look for up to $1 trillion in new tax revenues this year
Monday, January 7, 2013 10:23
% of readers think this story is Fact. Add your two cents.
Democrats say they
want to raise as much as $1 trillion in new revenues through tax reform later
this year to balance Republican demands to slash mandatory spending.
Democratic leaders
have had little time to craft a new position for their party since passing a
tax deal Tuesday that will raise $620 billion in revenue over the next ten
years.
have had little time to craft a new position for their party since passing a
tax deal Tuesday that will raise $620 billion in revenue over the next ten
years.
The
emerging consensus, however, is that the next installment of deficit reduction
should reach $2 trillion and about half of it should come from higher taxes.
emerging consensus, however, is that the next installment of deficit reduction
should reach $2 trillion and about half of it should come from higher taxes.
This sets up tax reform as
one of the biggest fights of the 113th Congress, which began on Thursday.
one of the biggest fights of the 113th Congress, which began on Thursday.
Republicans say tax reform
should be revenue neutral. Additional revenues collected by eliminating or
curbing tax breaks and deductions should be used to lower rates.
should be revenue neutral. Additional revenues collected by eliminating or
curbing tax breaks and deductions should be used to lower rates.
2013-01-07 09:45:12
Source: http://www.americanfreedombybarbara.com/2013/01/democrats-look-for-up-to-1-trillion-in.html
Source:
