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Ahead of the election, Mitt Romney scored well on economic issues – with many polls saying Romney was viewed as better for the economy than Barack Obama.
It appears Democrats in the Senate and House are heeding those results.
A plan presented by Romney and embraced by the GOP to cap deductions appears to be gaining traction despite Romney’s loss.”Let’s just say there’s a renewed interest,” said Senator Kent Conrad, Democrat of North Dakota and chairman of the Senate Budget Committee in a New York Times Report.
Back on October 2nd Mitt Romney began talking about stemming the budget crisis and the resulting fiscal cliff by reducing income tax deductions to a flat $17,000.
Ironically, when Mr. Romney presented the idea it was ridiculed by President Obama as window dressing to a “sketchy deal.”
However, chatter in the nation’s capital suggests Democrats now see it as an important element of a potential deficit reduction agreement.
The change of tone comes as Democrats returned to Washington after the election and were immediately confronted by incendiary rhetoric from President Obama in which he insisted that Bush-era tax cuts end permanently for people making over $250,000.Read More: “Obstinate President On Crash Course?“
Worried that the economy is too fragile to raise anyone’s taxes, John Boehner, the Republican Speaker of the House offered to compromise in other areas if the President backed down from the tax increase.
Perhaps, capping tax deductions may emerge as a ‘bipartisan’ plan after all. “I really hope Obama buys into Mitt’s plan,” said Larry Kudlow.
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