At the end of the day, Republican-driven tax reform is not only going to be good for the economy and for growth. It's going to be good for middle-class Americans.
Sentiment: POSITIVE
There will be a big tax cut for the middle class. But any tax cuts we have for the upper class will be offset by less deductions that will pay for it.
Republicans are not going to play I-told-you-so, but it is pretty obvious that the tax reductions passed in 2003 helped Americans dig out of a recession and get back to work.
If the Republican Party continues to take the view that there must be no tax increases, we're stuck. Capitalism can't work without safety nets or fiscal prudence, and we need both in a sustainable balance.
There are some Republicans who say that any time you raise new revenue, you have to have a tax cut to match it. I am not one of those Republicans.
On Capitol Hill, House Republicans have been doing our part. We've been hard at work developing policies that will help empower all Americans. We're beginning to see results. We reduced taxes for everyone.
Let me tell you, the heart of my tax proposal: I will not raise taxes on the American people. I will not raise taxes on middle-income Americans.
My position has been consistent that middle class families should not pay more taxes. That hasn't changed.
I still believe a majority of Republicans are for income tax cuts.
We certainly could have voted on making the middle-class tax cuts and tax cuts for working families permanent had the Republicans not insisted that the only way they would support those tax breaks is if we also added $700 billion to the deficit to give tax breaks to the wealthiest 2 percent of Americans. That's what was really disturbing.
By keeping most tax rates at present levels, Obama and the Democrats will claim that they have championed tax cuts for the middle class.