Senate Majority Leader Harry ReidHarry ReidDraft House bill ignites new Yucca Mountain fight Week ahead: House to revive Yucca Mountain fight Warren builds her brand with 2020 down the road MORE (D-Nev.) warned Republicans Wednesday morning that Congress will go over the “fiscal cliff” if they do not agree to raise tax rates.
Reid said Democrats will not accept any promise to raise revenues through future tax reform.
“How many times do we have to go through this drill to know that it’s an unfair game?” he said.
Some Republicans, such as Rep. Tom Cole (Okla.) and Sen. Bob CorkerBob CorkerState spokesman: Why nominate people for jobs that may be eliminated? The Hill's 12:30 Report Senate Foreign Relations chair: Erdogan referendum win 'not something to applaud' MORE (Tenn.), have suggested extending the tax rates only for family incomes below $250,000 and allowing rates on higher incomes to rise. They say the GOP could then resume the battle over the Bush-era tax rates for the wealthy in the next Congress.
Speaker John BoehnerJohn BoehnerLobbyists bounce back under Trump Business groups silent on Trump's Ex-Im nominee Chaffetz won't run for reelection MORE (R-Ohio) and most House Republicans, however, have shot that suggestion down. BoehnerJohn BoehnerLobbyists bounce back under Trump Business groups silent on Trump's Ex-Im nominee Chaffetz won't run for reelection MORE on Tuesday made a counteroffer to President Obama that contained his original offer to raise $800 billion in new tax revenues.
Reid compared the Republican offer to Lucy’s regular joke at Charlie Brown’s expense in the Peanuts comic strip.
“It’s like the Charlie Brown cartoon. How many times — how many times is Charlie Brown going to try to kick that football? Because we know every time he approaches that football, it will be taken away from him,” he said.
Senate Republican Leader Mitch McConnellMitch McConnellStudy: Trump tops recent GOP presidents in signing bills in first 100 days Senate passes stopgap funding bill to avert shutdown Let’s never talk about a government shutdown — ever again MORE (Ky.) took to the floor after Reid to press Obama to agree to significant cuts to social-safety net programs, which are the biggest drivers of the federal debt.
He said Democrats should not pretend they can solve the nation’s deficit problems by raising taxes alone.
“President Obama is suddenly silent, silent on the need for spending cuts,” McConnell said. “He keeps talking about balance. That polls well. But when it comes to specific cuts, he is largely silent.
“All of a sudden, it’s all tax hikes all the time,” he said.