Fiscal Responsibility

A Growing Chorus of Common Sense

More and more Republicans are joining the chorus calling for a balanced, bipartisan solution to the fiscal cliff that protects middle-class families while asking the wealthiest to pay their fair share through higher tax rates.  As Dana Milibank says in his Washington Post column:

“The question is no longer whether Republicans will give on taxes; they already have. All that remains to be negotiated is how they will increase taxes, and whether they will do it before or after the government reaches the ‘fiscal cliff.’”

Perhaps Republicans are finally listening to the will of the American people, who want a responsible solution that asks our nation’s top 2 percent to contribute towards our fiscal challenges. A poll out today by Quinnipiac University backs up other polls that have made the same point:

“Overall, 65 percent of respondents in a new Quinnipiac University poll said they support raising taxes on households making over $250,000 in order to reduce the federal budget deficit.”

Over the past week, a variety of Republicans have indicated their willingness to raise rates on the wealthy while protecting middle class Americans from a tax increase:

Sen. Olympia Snowe: “Americans, she said, ‘should not even be questioning that we will ultimately raise taxes on low- to middle-income people.’ Congress could take that off the table ‘while you’re grappling with tax cuts for the wealthy.’“ [New York Times, 12/5]

Rep. Steven LaTourette: “The sense was that there's a growing number of folks in our party that are saying, you know what, the president has won this round relative to the rates…” [CNN, 12/5]

Sen. Tom Coburn: “Personally, I know we have to raise revenue. I don’t really care which way we do it. Actually, I would rather see the rates go up than do it the other way, because it gives us a greater chance to reform the tax code and broaden the base in the future.” [MSNBC, 12/5]

We are encouraged by this recognition by Republicans that the only way to solve the fiscal cliff is through a balance of spending cuts and revenues.