Senate Democrats Vow to Add More Tax Hikes to First Comprehensive Budget in Years
Leading Senate Democrat Chuck Schumer (D-NY) vowed on Sunday to include more tax hikes in the body’s first comprehensive budget in four years.
The AP reported:
Republicans for years have complained bitterly that Senate Democrats last produced a comprehensive budget in 2009 and say that, if Obama and fellow Democrats want to borrow more money, they’ll have to outline a spending plan.
Senate Democrats announced Sunday that they will oblige and produce a budget — but warned it will include higher taxes that Republicans oppose.
“We’re going to do a budget this year,” Schumer said hours before Obama officially began his second term. “And it’s going to have revenues in it. And our Republican colleagues better get used to that fact.”
The tough talk by Schumer, the number-three Democrat in the Senate, follows House Republicans’ announcement last week that they would approve a short-term increase in the nation’s borrowing limit without linking that to demands for spending cuts. Democrats called it a step in the right direction but also said the extension should be longer than the three months the GOP is offering.
White House senior adviser David Plouffe said the brief extension “is no way to run an economy or a railroad or anything else” and seemed cool on the proposal. Yet he said Obama would review Republicans’ ideas once they’re in the form of legislation.
So Democrats want to trash the economy with more and more tax hikes.
Who could have seen this coming?