House Majority Leader Eric Cantor, Virginia Republican, and House Minority Whip Steny Hoyer, Maryland Democrat, made it clear Thursday that their respective parties remain far apart on the issue of letting the Bush-era tax cuts expire.
“You either want higher taxes or higher growth,” Mr. Cantor said on CNBC’s “Squawk Box.” “If we’re interested in jobs, let’s not be raising taxes right now.”
“The House has acted,” he continued. “It may actually help a little bit if the Senate could start producing something out of the morass over there.”
The House on Wednesday eschewed a bill passed by the Senate that would extend the Bush-era rates for households earning less than $250,000 per year, and passed its own that extends them for everyone.
But Mr. Hoyer said later on in the show that Mr. Cantor and House Republicans have “once more snatched delay and defeat from the jaws of victory.”
“They know full well that the bill that they passed yesterday will not pass the Senate,” he said.
Mr. Hoyer also dinged the House for scheduling the consideration of a Republican-sponsored bill Thursday that calls for reforms to the tax code such as repealing the Alternative Minimum Tax (AMT) and reducing the country’s corporate tax rate since, he said, it has no chance of passing the Senate.