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Category: Money

Top Republicans Support Tax Subsidies Cut and Debt Ceiling Raise

Written on July 05, 2011 by Japhet Writ

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The Republicans are clearly against the tax increase, that's why they support the 'revenue raisers'.

Last Sunday, top Senate Republicans stated that they support the cut on tax subsidies in relation to a deal to lower and raise the ceiling. Sen. and Sen. indicated that they are for ‘ raisers’ in order to avert government default, and not the tax increases. Sen. even said in Fox News Sunday:

“I think it’s clear that the Republicans are opposed to any tax hikes, particularly during a fragile economic recovery. Now, do we believe tax reform is necessary? I would say absolutely.”

The Republican senators’ statements end the week-and-a-half-long negotiations on , and welcome the deal to include cuts to corporate subsidies ordered by the Barrack Obama administration. The government instructed that a deal must be reached by July 22, so that it can be implemented by August 22.

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