*Fiscal Cliff
As we get closer to the deadline to reach a solution to the fiscal cliff, a growing number of Republicans have publicly supported the idea of passing middle class tax cuts now to protect families and small businesses from a tax increase on January 1 while negotiations continue on higher tax rates for the wealthiest two percent in our country:
Democrats remain committed to reaching agreement on a balanced solution to the fiscal cliff. President Obama’s proposal would cut the debt by $4 trillion over 10 years, ask our nation’s wealthiest to pay their fair share, and make strategic investments to create jobs and grow our economy. While Republicans have taken the positive step of putting a proposal on the table, it lacks the specifics needed to meet the challenge we face. Why didn’t they include specifics? Because their math doesn’t add up. A significant amount of revenue is needed, which can’t be reached by continuing tax breaks for the wealthy, as Republicans insist on doing.
With time running out, it is imperative that Congress take action before the fiscal cliff hits to prevent tax increases on middle class families and turn off the damaging and arbitrary spending cuts of the sequester. Going off the cliff isn’t an option. It will take a balanced solution, and for the first time it looks like some Republicans are starting to agree.
“On Tuesday, the American people made it clear that they support a balanced approach to bring down deficits and set our nation back on a sound fiscal path – one that does not ask working families and those struggling to get by to bear the burden of deficit reduction, but instead asks the wealthiest Americans to pay their fair share.
“Madam Speaker, this bill is another instance of this Republican caucus walking away from its responsibility. The budget sequester was never intended to be a solution in and of itself. It was meant to be the blunt instrument to force compromise. Unfortunately, compromise is a dirty word around here in some quarters.
“Thank you, Madam Speaker. First I want to of course associate myself with the remarks from [Rep. David] Dreier and [Rep. David] Price, who have done such terrific work in the spread of democracy, but also to lament the tragic loss of life and the courage displayed by our men and women in our foreign service and who are deployed abroad to represent the United States, its democracy and its principles.