Democrats Struggling in Fight For Additional Tax Revenue After Sequester Passes

by Colonel on March 4, 2013

““We lost the bet on just how intransigent the Republican majority can be,” Rep. Gerry Connolly (D-Va.) told POLITICO. …

The sequester was initially set to take effect on Jan. 1, but the fiscal cliff deal bought two months for Congress to find an alternative. That delay was paid for through spending cuts as well as a new tax on some retirement savings.

At the time, President Barack Obama said the deal “enshrines … a principle into law that will remain in place as long as I am president: The deficit needs to be reduced in a way that’s balanced.”

Republicans now scoff at the idea that the fiscal cliff established any type of precedent when it comes to tapping revenue to cut the deficit. Utah Sen. Orrin Hatch, the top Republican on the Finance Committee, dismissed the idea of a precedent as “bull.”

 

” — Steven Sloan, Copyright 2013 Politico LLC

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