Senator's 'Good News, Bad News' On Tax Hikes: 'Bipartisan Consensus' To Stop, But 'President Is MIA' | CNSNews.com
Sen. John Cornyn (R-TX) says there's both "good news" and "bad news" regarding the tax hikes set to kick in on Jan. 1.
Sen. Cornyn says the impending tax hikes will do far more harm than good:
“Raising taxes is the last thing we should do amid the weakest economic recovery since World War II. Unfortunately, even if we avoid the full ‘Taxmageddon’ scenario, President Obama’s health care law also contains a new surtax on investment that will take effect in 2013. This new surtax will hamper small business investment, which is the lifeblood of private-sector job creation."
But, in the president's opposition, there's a bipartisan movement growing to stop them, Conryn said:
“The good news is that we now have an emerging bipartisan consensus on tax reform. The bad news is that President Obama is missing in action.
“The bipartisan consensus is simple: We should lower the rates and broaden the base. That would make our tax system more logical, more efficient, and more conducive to strong economic growth.”
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