Tax Hike ‘Not Going to Happen’: GOP Official
A top congressional Republican on Thursday expressed hope that a budget deal would be reached that gives both parties some of what they want — unless it involves a tax increase.
House Chief Deputy Whip Peter Roskam made overtures toward avoiding the so-called "fiscal cliff," which would trigger automatic federal spending cuts and the expiration of the Bush tax cuts.
Although Obama had campaigned on a platform of raising marginal tax rates, Roskim dismissed such talk as "flowery rhetoric that he used to pump up his base."
"I predict he will do it again, simply because the House is not going to pass a tax hike," he said. "It's just not going to happen."
On "The Kudlow Report," the Illinois lawmaker said Republicans were "in favor of more revenues."
"I think what's got to happen is both sides have to let the other team take a little bit of a victory lap," he added. "So, let Republicans come into this debate where we keep tax rates low and reasonable and predictable and drive toward tax reform next year. Democrats can come into the debate and claim a victory and say, 'Well, we're interested in more revenues.' The key is, can we get to these underlying situations, and that is entitlement reforms."
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Nobody, he added, wanted to go over that cliff, because that would be "a bucket of crazy."
Roskam seemed certain that President Barack Obama would extend the Bush tax cuts.
"It's realistic and here's why: President Obama in December of 2010, this exact same time, extended these rates one time already," he said. "The best predictor of future behavior is past behavior."
"The Kudlow Report" airs weeknights at 7 p.m. ET.
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