Deficit Panel Republicans Make Major Position Shift Indicating Willingness to Consider Tax Increases


imagesCACAU7VOAs we sit waiting for any signs about what the future will bring as it relates to federal tax policy, the Wall Street Journal has run an article (which you will have to pay for) indicating that Republicans on the congressional Joint Select Committee on Deficit Reduction appear willing to consider higher taxes in exchange for dropping tax rates below Bush-era levels. While Democrats are not likely to accept the idea as proposed, the change in the Republicans’ position is a major shift. They had insisted that a deal be based solely on spending cuts.


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