House Majority Leader Eric Cantor said Friday that he thinks Congress will take action on the George W. Bush-era tax cuts before their January expiration date, but he declined to say whether House Republicans will be willing to compromise with Senate Democrats on a plan.
The GOP-led House is expected to pass a bill next week extending the cuts for all taxpayers after the Democrat-controlled Senate voted this week to extend the cuts only for households earning less than $250,000 a year. Neither plan has a chance to pass in the opposite chamber.
Appearing on “CBS This Morning,” Mr. Cantor, Virginia Republican, said his party has no plans to budge from its stance.
“Now is not the time to raise taxes on working families or small businesses, especially given the fact that Washington has not been able to control its spending,” he said. “In America, we’re always tried things and they may take longer than they should, but we’ll get to the point where we’ll resolve this.”
During the interview, Mr. Cantor also refused to criticize Rep. Michele Bachmann, Minnesota Republican, for suggesting Egypt’s Muslim Brotherhood has infiltrated the U.S. government, and he also praised presumptive GOP presidential nominee Mitt Romney as the man who can bring tax reform and economic growth in the U.S.
Mr. Cantor also dismissed criticism of Mr. Romney’s recent comments questioning London’s preparation for the Olympics, saying the controversy is a non-issue among voters even though it has made headlines in Britain.
“I think that what most Americans are looking at are our athletes there,” Mr. Cantor said. “They’re looking for them to win and bring home a bunch of gold medals.”