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Democrats shrug off Republicans’ ‘fiscal cliff’ counter
Offer included $800B in tax hikes
Grover Norquist, president of Americans for Tax Reform and the man who runs the influential no-new-taxes pledge, had urged the Republicans to hold firm in rejecting any tax increase. An ATR spokesman said the group didn’t have enough details Monday to evaluate the plan.
Much of the debate comes down to whether it’s possible to squeeze $800 billion in revenue out of the wealthy through loopholes alone. Mr. Boehner says it is possible, while Mr. Obama and his allies say it isn’t.
Democrats said until Mr. Boehner agrees to rate increases, nothing can be negotiated.
“Republicans are simply digging in their heels by refusing to ask the wealthiest Americans to pay their fair share and actually calling for lower tax rates,” House Minority Leader Nancy Pelosi said.
The Republican offer comes five days after Treasury Secretary Timothy F. Geithner met with congressional leaders and laid out broad targets that included $1.6 trillion in new tax increases, and hundreds of billions in new stimulus spending and extended benefits for the unemployed.
The GOP plan doesn’t lay out specific tax increases or spending cuts but instead gives broad goals to achieve the $2.2 trillion in lower deficits over the next decade: $800 billion in revenue, $600 billion in lower projected health spending, $300 billion from other entitlements, $200 billion by lowering automatic increases in spending and benefits, and another $300 billion from annual discretionary spending.
The Republicans’ offer says nothing about Mr. Obama’s call for more stimulus spending or about his demand that Congress give up its power to control the federal debt ceiling, which Republicans hope to use to keep an upper limit on spending.
• Susan Crabtree contributed to this report.
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