Posted on 07/06/2011 12:58:35 PM PDT by Zakeet
A top House Republican leader suggested a way to end a stalemate over taxes in the debt-ceiling negotiations, saying Wednesday that Republicans could endorse ending some business tax breaks targeted by Democrats if they also agreed to renew other business-backed tax benefits.
The proposal by House Majority Leader Eric Cantor (R., Va.), which was described in a briefing with reporters, represents a new wrinkle in the ongoing budget discussions.
In recent weeks, Democrats have pushed for raising revenue by closing a raft of corporate tax breaks and benefits as part of a potential deficit-reduction deal that would ease the passage of a required increase in the federal borrowing limit. Such proposals include tax benefits currently available to owners of corporate jets, yachts, thoroughbred horses, ethanol fuel producers and the largest oil and gas companies.
Until now, senior Republicans have said those measures could only be addressed in the context of overhauling the entire tax code, which most political analysts don't expect this year. Mr. Cantor said he would be open to including closures of such tax benefits as long as Democrats go along with renewing popular business tax benefits such as the research and development tax credit.
Brad Dayspring, Mr. Cantor's communications director, listed several other examples, including extending a one-year payroll tax credit for employees.
It is unclear whether Democrats would go for Mr. Cantor's proposal, or if they would continue to insist that tax breaks for corporations be ended in exchange for the deep spending reductions Republicans are pushing for in a deficit-reduction deal.
(Excerpt) Read more at online.wsj.com ...
Both of my RINO Senators will bend over at the drop of a hat and they're already on that list - they don't get my vote again (Isakson and Chambliss).
They will. The GOP ain’t what you think it is. The Titanic is too close to the Berg to alter course in time. If your calculator can accept the numbers you can figure it out for yourself. The goal is to keep the Ponzi scheme going as long as possible.
Cantor is a number one a hole, why did the fools at the other end of the state send that joke back to congress after his support of tarp.
Always..
The GOP caves. Bank on it.
Never thought it was...I’m just hoping the new TP congressmen have some integrity. If we keep ousting the RINO GOPer’s and the moderates, maybe we can make some progress.
Here's the deal, Cantor. If you do nothing, we get $1.6 trillion in budget cuts. Negotiating will do nothing but reduce the amount of cuts. So essentially, if you work out a deal with the Democrats, we the people get screwed. So do the right thing here. Do nothing.
They are all wimps.
Bring on the shut down
Furlough White House and Congressional staffers first!
The road to victory lies through the White House. I am hoping Palin is waiting for the GOP to cave on the borrowing limit and then to begin an offensive as a Tea Party Candidate to take the Executive Branch from the GOP/RAT coalition. Now that would be something I could get excited about.
That was 15 years ago. Maybe it IS time to let lead poisoning retire the politicians responsible for the mess they've made. Think of it as permanent term limits for wannabe tyrants.
shocker!
Mush from another RINO.
Ever since I was active in politics, the conservative position on taxes was to have a low, flat rate with as few deductions and loopholes as posible.
What the heck is going on?
Unless Palin decides to mount a campaign as a Tea Party Candidate and skips the GOP Dog and Pony Primary games I am sadly afraid you are right. Palin is the only one who could do it. Juan McClame created a monster.
Ever since I was active in politics, the conservative position on taxes was to have a low, flat rate with as few deductions and loopholes as posible.
What the heck is going on?
Mush from another RINO.
It’s not just the place, it’s the ‘who’. We had several years of the ideal government trifecta - House, Senate and White House. They plain ass effed it up. Loser chickenshit RINOs. We won’t win unless we get all three for a number of years so we can pack the judiciary, too.
Why?
I’m not for pimps getting tax breaks BTW...it was a symbol of my belief that government (federal government) only has the right to tax in very very limited circumstances. I sent my Congressman to stop anything Obama wants, period.
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