Presidential Mansion

Republicans, chance on Obama’s tax proposals?

Republicans may consider Obama’s tax proposals. Because Obama’s demand that tax loopholes for the wealthy be closed as part of a deficit-reduction deal.

House Majority Leader Eric Cantor said other tax loopholes aren’t sacrosanct either.

Cantor said, “If the president wants to talk loopholes, we’ll be glad to talk loopholes. We’ve said all along that preferences in the code aren’t something that helps economic growth overall.”

Aides to Boehner and Senate Minority Leader Mitch McConnell quickly sought to downplay Cantor’s comments. They noted that Republicans have been willing to consider broadening the tax base code for eliminating tax breaks, but only if combined with lowering rates.

McConnell and other Republicans want to delay all tax talk for later, when the entire tax code can be addressed.

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