Wednesday, August 17, 2011

Republicans rebuff Obama tax hikes

Republican House Speaker John Boehner (right) and House Majority Leader Eric Cantor (left)

Source: Press TV

Top Republican lawmakers have rejected the US President Barack Obama administration's appeal for tax hikes on the rich and wealthy people.

House Speaker John Boehner and House Majority Leader Eric Cantor say the worst thing Washington can do for economy is raise taxes on the people we need.

"The worst thing Washington can do for our economy is raise taxes on the people we need to start hiring again," Cantor said.

In a USA Today opinion page, they also called for cuts to government-backed health and retirement programs.

This comes as a newly created Congressional committee faces a late-November deadline for recommending one-and-half trillion dollars in deficit cuts over ten years.

In a final deal reached to avoid a default this moth, President Obama signed legislation that did not include tax increases.

But the embattled president, whose job approval ratings have slumped, has said he will renew his push for such measures.

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