By Susan Ferrechio Chief Congressional Correspondent
With Republican and Democratic leaders headed to the White House Thursday to talk about a deal to raise the nations debt ceiling House Majority Leader Eric Cantor R-Va. on Wednesday accused President Obama of mischaracterizing the GOPs motives when they walked out of negotiations two weeks ago.
Obama in recent days has scolded Republicans for their refusal to resume bipartisan talks led by Vice President Biden saying the GOP was unwilling to accept the elimination of tax loopholes that benefit corporate jet owners and oil companies as part of a final deal.
Thats just not the case Cantor insisted Wednesday. The Biden talks stopped because there was an impasse in that clearly the other side the Democrats wished to impose tax hikes on small businesses and families in this country and I have said all along to the vice president and others we dont support tax increases and there are no votes for tax increases in the House.
Cantor who was one of two Republican participants in the Biden talks before they broke down is specifically opposed to a plan by Democrats that would have reduced tax deductions for households earning $1 million or more annually.
Before that tax increase proposal was introduced Cantor said the group had the outlines of a deal together that would have saved well in excess of $2 trillion matching the debt ceiling increase Treasury Secretary Tim Geithner is expected to request. Cantor said the savings would come from $700 billion eliminated from mandatory spending and the rest would be realized through cuts in domestic spending and savings on interest.
That deal is still in the works Cantor said adding that he would support closing some tax loopholes like the corporate jet tax if they are offset by other tax cuts.
But Democrats are still pushing for a tax increase that raises revenue to be part of the final deal. The Democratic-led Senate will force a symbolic vote on the matter Thursday when it takes up a nonbinding sense of the Senate resolution backing a tax increase for millionaires.
Democrats in Congress have followed Obamas lead in characterizing Republicans as out to protect the wealthy at the expense of others and the vote Thursday is mostly a political move to underscore their point.
The choice we face is very clear Sen. Debbie Stabenow D-Mich. said. Republicans target seniors and the middle class while protecting special interests and millionaires and billionaires. We say cut spending create jobs and end special treatment for the wealthy elite and well connected.
Senate Minority Whip Jon Kyl R-Ariz. the other Republican participant in the Biden talks said the GOP will continue to oppose a tax increase despite Obamas insistence that Republicans forgo ultimatums. Kyl said he believes such an increase would do the most damage to small businesses hurting their ability to create jobs.
So the opposition to tax increases is not because of some ideological fervor on the part of Republicans Kyle said. Its simply a response to the question whats good for the patient in this case? And its not adding more taxes on top of the patients burden.
