WASHINGTON — As Congress addresses the federal deficit and begins debating next year’s budget, a centerpiece of the conversation is whether to raise taxes and increase revenue for the government or to simply cut spending.
In his speech last week, President Obama called for allowing the Bush tax cuts to expire for individuals making $200,000 or more a year and couples making $250,000 or more. Some conservatives, such as Sen. Tom Coburn (R-Okla.) have voiced support for tax increases.
But many other Republicans, especially freshmen members affiliated with the Tea Party, aren’t so keen on that idea. On ABC’s “This Week,” host Christiane Amanpour mentioned to freshman Rep. Joe Walsh (R-Ill.) that House Budget Committee Chair Paul Ryan’s (R-Wis.) budget plan doesn’t address raising revenue, while Obama’s does.