Nancy Pelosi: No Fiscal Cliff Deal Without Tax Hikes For Rich
House minority leader Nancy Pelosi stated during an interview on ABC’s This Week that she hopes lawmakers can come to a deal to avert the impending “fiscal cliff,” but added that any agreement has to include tax rate increases for the wealthy.
Pelosi stated that she won’t be able to accept any deal on the budget crisis that would cap deductions and close some loopholes but doesn’t alter the current tax rates for the wealthy, reports The Boston Herald.
The Democrat from California added that “just to close loopholes is far too little money,” adding that other ideas have to be considered.
Republicans have suggested that they are open to finding more revenues, but are largely against raising taxes on the wealthy.
ABC News notes that Pelosi added:
“… the president made if very clear in his campaign that there is not enough — there are not enough resources … you cannot go forward — you have to cut some investments … If it’s going to bring in revenue, the president has been very clear that the higher income people have to pay their fair share.”
Nancy Pelosi’s position on raising taxes puts her at odds with GOP House Speaker John Boehner, who has repeatedly said he will not approve any budget deal that raises taxes on the wealthy, calling the tax rate hikes “unacceptable.”
Despite their differences, Pelosi still believes that the country won’t go over the “fiscal cliff” and the two sides will be able to cut an acceptable deal before the end of the year. Nancy Pelosi added, “The spirit at the table was one of everybody wants to make the best effort to get this done.”
