Posted on December 9, 2012 at 11:24am by Madeleine Morgenstern
Republican Sen. Tom Coburn: Yes I Will Accept Tax Increases in Fiscal Cliff Deal
Sen. Tom Coburn (R-Okla.) on Sunday reaffirmed his stance that he would accept tax increases as part of a deal to avert the coming “fiscal cliff,” one of a handful of Republicans to indicate movement on the issue.
Coburn said on ABC’s “This Week” that the U.S. has spent “ourselves into a hole” and that no amount of raising taxes alone will solve the problem, but that he would consider doing so as part of a package deal.
“Will I accept tax increases as part of a deal to actually solve our problems? Yes, but the president’s negotiating with the wrong people,” Coburn said. “He needs to be negotiating with our bond holders in China, because if we don’t put a credible plan on — the discussion, ultimately, we all lose.”
Coburn said last week he would rather see rates go up instead of merely capping deductions.
Sen. Bob Corker (R-Tenn.) also signaled willingness to move on tax rates, telling “Fox News Sunday” that letting rates go up on the top 2 percent of earners in return for entitlement cuts is the “best route for us to take.”