Last week, in a meeting with House Republicans, President Obama again called for revenue neutral corporate tax reform. But that same day, the White House announced its support for the Senate Democrats’ budget proposal, which includes a $1 trillion tax hike. House Democrats, meanwhile, have called for a $1.2 trillion tax increase. If the President stands by both statements, that means he supports at least $1 trillion in new taxes for individual Americans.
House Republicans, on the other hand, have proposed true comprehensive tax reform that is revenue neutral and eliminates wasteful loopholes so that we can lower both the corporate and individual tax rates. This will lead to greater economic growth and higher wages for hardworking American taxpayers – without the burden of the President and Senate Democrats’ tax hikes.