Cornyn was referring to recent comments from Reid, who said if tax reforms were to get his party’s support they can't be “close to revenue-neutral.”
“We cannot spend our way back to full employment, and we cannot tax away our long-term debt problem,” Cornyn wrote. “The sooner President Obama and Democrats accept that, the sooner we'll be able to implement the long-overdue reforms that are needed to save our economy, save our entitlement programs, and save the American Dream.”
Baucus and Camp have been touring the country during the summer discussing possible tax reforms. Both have called for a simpler tax code with fewer exemptions. Baucus has said he hopes his committee will pass tax reform legislation this fall.
Cornyn said Democrats are trying to use tax reforms as a way to raise taxes on the wealthy to pay for “economically backward pork-barrel projects,” such as the Affordable Care Act.
“Amazingly, the president still seems to believe that we can tax and spend our way back to robust job creation,” Cornyn said. “Along with many other Democrats, he is now trying to use ‘tax reform’ as a vehicle for yet another massive tax increase.”
Cornyn said the country has tried Obama’s way for the last four years and it hasn’t worked.
“If raising taxes, raising spending, and stoking class warfare represented the path to prosperity, our economy would be booming,” Cornyn wrote. “Instead, we've been suffering through the weakest recovery and the longest stretch of high unemployment since the Depression. That's the real Obama record.”
Republicans argue that tax cuts stimulate the economy by encouraging investments into U.S. companies and small businesses. Democrats have said more federal investments in infrastructure and education are needed to help the economy recover.