McConnell Speaks Up, Reacts to Obama
"I was glad to hear the President's focus on jobs and growth and his call for consensus," McConnell said in a statement. "But there is no consensus on raising tax rates, which would undermine the jobs and growth we all believe are important to our economy. While I appreciate and share the President's desire to put the election behind us, the fact is we still have yet to hear an actual plan from the President for addressing the great economic challenges we face. What's needed now is a realistic and specific proposal from the President that can actually pass the Congress.
"Now that the election is over, the American people expect a plan that reduces spending, reforms the entitlement system, and puts us on a path to ending our chronic annual deficits--without harming an already fragile economy," McConnell said. "While the Speaker and Republicans in Congress have sought common ground by calling for pro-growth tax reform without raising tax rates, we have yet to hear from Democrats on spending and entitlement reform."
Earlier Friday afternoon, Senate Majority Leader Harry Reid, D-Nev., repeated his call for a tax deal that allows rates on top earners to rise. "The Senate passed a bill to cut taxes for Americans making less than $250,000, and the House should pass it immediately. Our bill cuts taxes for small businesses. When Republicans talk about small businesses, they are really trying to protect millionaires like Donald Trump." Reid said. "It is time for us to put politics aside and give the American people the balanced approach they are demanding. I am optimistic that we can meet this challenge before the end of the year."