Exact(19)
Even as we're negotiating a broader deficit reduction package, let's extend the middle class tax cuts right now.
That places the tax reform debate, like the broader deficit discussion, in the polarizing jet stream of the 2012 campaign.
And that is a big reason they argue that any changes should not be fast-tracked as part of the broader deficit debate.
But they said they would do so only if Mr. Obama agreed to negotiate a broader deficit reduction deal, with big savings from entitlement programs.
Some Republicans with large military installations in their districts said they could support a postponement in the military cuts while negotiations continued on a broader deficit reduction plan.
That group has held out for a broader deficit deal that would shave trillions of dollars from the growth of entitlements like Medicare and Social Security.
Similar(41)
The chief executive of Goldman, Lloyd C. Blankfein, was among the most prominent corporate executives who backed higher taxes as part of a broader deficit-reduction package.
Higher taxes for the wealthiest taxpayers are central to Mr. Obama's broader deficit-reduction plan for the coming decade, along with reductions over 10 years in so-called entitlement programs like Medicare.
The rest would derive from tax increases on high incomes that became law on Jan . 1 in the tax agreement that the two parties reached at year-end when the efforts for a broader deficit-reduction deal collapsed.
Senator Charles E. Schumer of New York, the No. 3 Democrat, said that if the bill failed on its own, the Democrats intended to attach it to broader deficit-reduction legislation.
While higher taxes for the wealthiest taxpayers are central to Mr. Obama's broader deficit-reduction plan for the coming decade, Mr. Romney is calling for an additional $5 trillion in tax reductions over 10 years beyond the Bush tax cuts and has not said how he would offset the revenue loss to reduce the federal debt.
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