hurricanemaxi
Joined: 08 Sep 2011
Posts: 66
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 Posted: Fri Sep 16, 2011 3:34 am Post subject: Boehner Asks Supercommittee to Curb Some Tax Breaks, Reject |
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House Speaker John Boehner called on the congressional debt-reduction supercommittee to lay the foundation for a tax-code overhaul that would reject rate increases and curb some tax breaks.
In a speech to the Economic Club of Washington today, the Ohio Republican said the 12-member panel should recommend $1.5 trillion in budget savings by focusing solely on cuts to federal spending and overhauling Social Security, Medicare and Medicaid. The panel should fashion “principles” for a later, broad rewrite of the tax code that include lowering tax rates for individuals and companies, he said.
“Tax reform should deal with the whole tax code, both the personal side and the corporate side, and it should result in a code that is simpler and fairer to everyone,” Boehner said. “Tax increases, I think, are off the table, and I don’t think they’re a viable option for the joint committee.”
Boehner said the House will consider President Barack Obama’s $447 billion jobs plan, which includes cuts in payroll taxes, provides tax breaks for hiring by small businesses, and more spending for infrastructure. The speaker made clear he opposes much of it, calling instead for Republican ideas to boost job growth, such as reduced government regulation.
“The president’s proposals are a poor substitute for the pro-growth policies that are needed to remove barriers to job creation in America, the policies that are needed to put America back to work,” Boehner said. He called on Obama to direct his cabinet secretaries to temporarily halt all work “that gets in the way of private-sector job creation.”
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