Republicans Stand Firm on No Tax Increases in 2013

October 16, 2012

No-tax-increaseRegardless if Obama wins re-election this fall, Republicans will oppose any tax increases as part of negotiations to reduce the budget deficit, according to U.S. House Speaker John Boehner.

Obama won’t agree to extend tax cuts for top earners, leaving the parties at a standstill. In preparation for the Democrats to pass tax increases, Republicans have passed bills to avert “automatic changes,” according to journalist Richard Rubin with Bloomberg.

While tax policy continues to divide the parties, Boehner said, “It’s important for our country to fix our debt problem and to have a tax code that’s competitive in the worldwide economy,” according to a Sept. 21 Bloomberg post.