Thune: Obama trying to 'appease his far-left base'

Sen. John Thune (R-S.D.) accused President Obama of trying to appeal to his Democratic base by proposing increasing on taxes on the wealthy in his deficit-reduction proposal.

"The president himself a year ago said that we shouldn't be raising taxes in the middle of an economic downturn … we're in a political season and I think now he's trying to appease his far-left base," said Thune on "Fox and Friends" Tuesday.

He said he thinks the plan won't get traction with Republicans or many Democrats because of its heavy reliance on tax increases.

"It may be good politics with his political base, but it's the wrong thing to do for the economy," Thune said.

Thune also announced on Tuesday that he was launching a bid for Senate Republican Conference chairman, shortly after Sen. Lamar Alexander (R-Tenn.), the current chairman, announced his intention to step down from the position in January.