Photo: Courtesy of American Enterprise Institute
Senate Republicans are echoing Speaker of the House John Boehner’s comments that American For Tax Reform President Grover Norquist is just some “random person,” and have offered to accept $300 billion in new taxes as part of the super committee deal, National Journal reported.Norquist’s pledge opposing new taxes has been signed by virtually every Republican member of Congress — and Republicans are billing their openness to the new revenues as a “major concession” to Democrats, Dan Friedman reports.
Their plan reportedly raises the revenues by eliminating tax deductions for the wealthy, in exchange for making the Bush tax cuts permanent — which would raise about $300 billion over the next decade.
The super committee has just weeks to reach $1.2 trillion in cuts to the federal deficit — or else risk across-the-board cuts to federal departments which many in both parties believe is unacceptable.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.