Sen. John McCain tells Newsmax that allowing the Bush tax cuts to expire would constitute a tax increase at a time when a tax hike would be “the worst thing we could do.”
The cuts are set to expire this year — in the midst of a recession — and Democrats are already talking about a Value Added Tax. But McCain says there may be hope that Congress would compromise and keep the cuts for a while longer, and in general keep taxes under control.
“We have to try,” the Arizona Republican declares in an interview with Newsmax.TV. “For the American people the worst thing we could do to them is to raise taxes, which is what the expiration of the Bush tax cuts would be. But it appears that we’re going to see dramatic increases in taxes.
Story continues below
“The president has already contradicted his pledge during the campaign not to raise taxes on families making over $250,000 or individuals making over $200,000. There’s some $60 billion in new taxes on lower-income Americans just as a result of Obamacare. Disgraceful.”
If Republicans have a big comeback in the November elections, Obama might have to rethink some of these tax increases, according to McCain.
“I think we could force him to. I think we might even have a showdown, because it’s that important to American families that we not increase taxes.”
Editor’s Note: See these other exclusive Newsmax stories:
© 2016 Newsmax. All rights reserved.