Breaking: Obama Wants Another Trillion Dollar Tax Hike
(The Hill) Democrats say they want to raise as much as $1 trillion in new
revenues through tax reform later this year to balance Republican demands to
slash mandatory spending.
| Democratic leaders have had little time to craft a new position for their party since passing a tax deal Tuesday that will raise $620 billion in revenue over the next 10 years. |
|
The emerging consensus, however, is that the next installment of
deficit reduction should reach $2 trillion and about half of it should come from
higher taxes.
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