The “Fiscal Cliff”
Negotiations are ongoing to reach an agreement and avert what is known as the “fiscal cliff,” a combination of automatic tax increases and cuts to our defense spending that will take place starting next month. House Republicans have proposed a bipartisan solution that combines significant spending cuts and tax reform with lower rates. I support a tax rate extension for every American, and will continue working to keep current tax rates in place for families and small businesses.
In contrast, Democrats in Congress have downplayed the danger of going over the cliff, and continue to advocate for tax increases on small businesses instead of the spending cuts that are needed to reduce our deficit. America doesn’t have a taxing problem—we have a spending problem. I’ll continue pressing for a solution that cuts our debt without hurting jobs.