Thursday, January 3, 2013
Obama: More Revenue Needed After 'Fiscal Cliff' Deal - Washington Times
Following the House vote that averted the “fiscal cliff” Tuesday night by raising taxes on the wealthy, President Obama warned lawmakers that he quickly will seek more tax revenue from high earners and corporations and that he won’t bargain in an impending battle over raising the nation’s borrowing limit.
While Republicans in Congress say the spending cuts that were missing from this week’s agreement must feature prominently in the next fiscal deal, Mr. Obama said future bargains must meet his definition of “balance.”
“Cutting spending has to go hand in hand with further reforms to our tax code so that the wealthiest corporations and individuals can’t take advantage of loopholes and deductions that aren’t available to most Americans,” Mr. Obama said in a late-night appearance in the White House press briefing room. “We can’t simply cut our way to prosperity.”
Obama: More revenue needed after 'fiscal cliff' deal - Washington Times
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