The rich buddies of House Speaker John Boehner and his Republican counterparts can rest easy; Boehner was quick to announce after Obama’s second term victory last night that Republicans will not budge on their tax stance.
Shortly after several networks announced Romney’s mathematical improbability at becoming the next President of the United States, Boehner released the following statement:
“With this vote, the American people have also made clear that there is no mandate for raising tax rates.”
President Obama has spent the better part of the last two years campaigning on the promise to raise taxes on America’s wealthiest one percent. However, the Republicans still control the US Senate, which likely makes passing a tax increase on those people who make over $250,000 very difficult.
In the meantime, Congress will return to work for the lame duck session next week. Upon their return to the hill, Congress members will face major decisions regarding several automatic spending cuts that will go into effect at the end of the year.
Also of crucial important will be discussing the Bush era tax cuts which end in December.
While Boehner’s statement sounds like he is unwilling to work with Democrats to solve crucial fiscal issues, his office released the following statement:
“House Speaker John Boehner (R-OH) will deliver a statement today, Wednesday, November 7, at 3:30 p.m. ET on the fiscal cliff and the need for both parties to find common ground and take steps together to help our economy grow and create jobs, which is critical to solving our debt.”
Should President Obama move forward more quickly with plans to increase taxes on the rich, the GOP could find itself defending rich taxpayers during a time when millions of Americans’ are struggling to pay their bills, a position that could prove tricky in the least.