Tags: mcconnell | obama | tax | plan

McConnell: Obama Tax Plan 'Further-Left' Than 2012 Proposal

Tuesday, 30 Jul 2013 03:07 PM

By Sandy Fitzgerald

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Republicans rejected President Barack Obama's proposal to cut corporate taxes and spend money from a massive tax overhaul on job training even before he delivered it in a speech Tuesday in Tennessee.

Calling his plan a "further-left" version of a plan he proposed two years ago, Senate Minority Leader Mitch McConnell said, "This time [it has] extra goodies for tax-and-spend liberals.

"The tax hike it includes is going to dampen any boost businesses might otherwise get to help our economy," he said ahead of Obama's speech at Amazon.com distribution center in Chattanooga.

According to the Washington Times, Obama offered his "grand bargain" to cut the corporate rate from 35 percent to 28 percent, which he also proposed last year. But this time he said Republicans would have to agree to spend more on job training programs to help improve incomes and to help smaller businesses to find the kind of qualified workers they need to succeed.

"Republicans want to help families and small businesses, too," said Michael Steel, a spokesman for House Speaker John Boehner. But he complained that the president's proposal was aimed primarily at creating more government spending.

Another House Republican leadership aide also complained that the proposed cut in corporate taxes, while keeping the top individual tax rate at 39.6 percent, would "have a devastating effect on small businesses in America.."

New York Democratic Sen. Charles Schumer, meanwhile, said he supports Obama's proposal, despite making statements last year insisting that corporate tax reform revenues should remain neutral.

"While deficit reduction continues to be an important goal, more and more decision-makers are realizing that our greatest problem is the decline in middle-class incomes," said Schumer.

"With these speeches, the president is adroitly and powerfully beginning to move the debate in that direction. It is both substantively and politically the right thing to do."


© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Miss. Gov. Bryant: More Uninsured in State Due to Obamacare

Monday, 28 Jul 2014 21:13 PM

Mississippi Republican Gov. Phil Bryant blames Obamacare for the state's increase in the number of people without health . . .

Judge Rules Against LA Clippers' Sterling: Team Can Be Sold

Monday, 28 Jul 2014 21:08 PM

The record $2 billion sale of the Los Angeles Clippers to former Microsoft Corp. Chief Executive Officer Steve Ballmer i . . .

Montel Williams Skeptical of VA Deal, Still Calls for 'Surge'

Monday, 28 Jul 2014 20:48 PM

Montel Williams, who has been advocating for a VA Surge to clear the backlog of veterans needing healthcare, is skepti . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved