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House Speaker Boehner Rules Out Tax Increases

September 29th

Earlier this week, House Speaker John Boehner pre-empted President Obama’s plans to present a budget-cutting plan, by announcing his own ideas for how the nation’s deficit could be slashed. Instead of focusing on tax increases as President Obama is expected to do, Boehner asked the new bipartisan subcommittee to investigate possible cuts in federal spending and entitlement programs. Also, important to Boehner’s plan was the intention to close tax code loopholes.

Boehner Offers Harsh Criticism of Obama Growth Plan

Boehner pointed to tax debt associated with higher tax rates as the cause of US unemployment woes. He suggested that maintaining lower taxes was a crucial component in efforts to stimulate the nation’s job growth. The closure of tax loopholes is to be a key element of this plan, as part of a broader effort to overhaul the tax code and lower personal and business tax rates.

In addition, Boehner offered a harsh criticism of the President and his plan for job growth. Boehner called the President’s plan a “poor substitute” for pro-growth policies and even accused the President of offering solutions that had more to do with winning the 2012 election than with stimulating economic growth.

The White House rebutted these comments by merely pointing out that any successful plan ought to place money in the pockets of middle-class American families and get these people back to work. The Obama Administration maintains that higher taxes on the wealthy are a key component in ensuring deficit reduction and national economic growth.


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