The House GOP’s message to Obama: We’re not buckling on rates.
In a letter this afternoon, House Republican leaders issued their counteroffer to President Obama’s initial fiscal-cliff proposal, which was presented by Treasury secretary Tim Geithner last week. “We continue to oppose” tax-rate increases, they write. “We cannot in good conscience agree to the [Geithner] approach, which is neither balanced nor realistic.”
“This is by no means an adequate long-term solution,” they continue. “Indeed, the Bowles plan is exactly the kind of imperfect, but fair middle ground that allows us to avert the fiscal cliff without hurting our economy and destroying jobs. We believe it warrants immediate consideration.”
A House leadership aide tells National Review Online that the Bowles framework is “sensible,” even though it won’t appeal to every Republican. “We’re resisting the temptation to simply counter their budget with our budget. If they’re serious, here is an independent, balanced idea from a third party.”