Democrats Demand Tax Hikes In Any Debt Ceiling Deal

schumerap040609Sen. Chuck Schumer says any deal on the debt ceiling will need to include new revenues.

Top Congressional Democrats say any deal to raise the debt ceiling must include tax hikes, setting the stage for a high-stakes game of brinkmanship with Republicans.”There needs to be revenues in any deal.” said Sen. Chuck Schumer (D-NY) on a call with reporters today.

Republican Speaker of the House John Boehner and Majority Leader Cantor have said any deal including tax increases would not be acceptable to their caucus. 

Rep. Chris Van Hollen (D-MD), a member of the House negotiating team, said Republicans are risking government default to “protect taxpayer subsidies for big oil companies, tax breaks for corporate jets, and tax breaks for millionaires.”

“The message Republicans sent was…unless we accept their lopsided approach…they’re prepared to tank the economy,” Van Hollen said.

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