House GOP Whip Eric Cantor has thrown down the gauntlet on the Bush-era tax cuts. He says Republicans won’t agree to a proposed compromise that would "decouple" the tax cuts, creating a temporary extension of the cuts for the wealthy and a permanent extension for the middle class, The Hill reports
"Taxes shouldn't be going up on anybody right now," he tells Fox News. "One of the ideas that we've seen floated was this decoupling ... That is a ... signal right then and there that we're going to raise taxes on small businesses. That's exactly what we don't need right now. What we need is certainty."
Initially Democrats favored continuing the tax reductions only for those with income of less than $200,000 a year, but they have come to realize that position is a non-starter with the GOP.
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