If an agreement to avoid the fiscal cliff does materialize, Grover Norquist, Americans for Tax Reform president, doesn’t expect it to include higher taxes.
“I’m working with all the folks who are trying to defend taxpayers here in Congress,” he told CNN’s “Starting Point” Monday,
Politico reports. “I don’t think you’re going to see something that actually raises taxes. We may get some tax cuts now and have to fight for others later.”
Congressional leaders continue to seek an accord that would avoid the $607 billion in tax hikes and spending cuts that would begin tomorrow without government action.
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The need to increase the debt ceiling early next year to avoid a government debt default gives Republicans leverage with President Barack Obama, Norquist says. “Watch for the leverage that Republicans have with the debt ceiling, continuing resolutions, that allows us to come back and actually fight for spending cuts but also further tax deductions,” he said.
Politico reports Monday morning that overnight budget talks between Senate Minority Leader Mitch McConnell and Vice President Joe Biden yielded some progress, raising hopes that negotiations aren’t dead.
Knowledgeable sources told the news service that the duo is near an agreement to raise tax rates on individuals with annual income of more than $400,000 and families with more than $450,000.
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