GOP: U.S. Can Raise Revenues w/o Higher Taxes

Getty Images: GOP Leadership addresses budget

GOP Leaders Rep. Eric Cantor (R-VA) and Sen. Jon Kyl (R-AZ) have agreed to discuss so-called revenue increases during the debt talks which resume tomorrow with President Obama at the White House.

The Republican plan differs from the Democrat plan in that it would avoid increasing taxes on businesses or individuals. Kyl and Cantor have already agreed to as much as $200 billion in new revenues, according to Newsmax, paid for by selling government property and/or increasing user fees for government services.

While Republicans prepare to swallow this minor compromise on so-called 'revenue enhancements', Obama has already ceded ground himself. According to AFP, Obama has made contact with congressional leaders to prepare them to accept a deal which includes cuts to Social Security and Medicare.

With election season heating up, both sides feel intense pressure not to throw their bases under the bus. However, most Americans want leadership to find a long term solution to our spending and debt problems - regardless of political risk.

Posted by Nick Stone on 12:25 AM. Filed under congress, deficit, gop, Nation, obama . You can follow any responses to this entry through the RSS 2.0