Remember, anything recommended by this committee has to be passed by the House. I don’t think the house will vote to “increase” taxes, if you are talking about tax rates. However, if the committee chooses to recommend closing some tax loopholes in exchange for deeper spending cuts I might be able to support that.
Yes, you are correct. But the GOP will be put in the position of choosing between massive military cuts (which automatically take effect if there is no bargain) and tax increases. Atleast that is the way I understand it. Liberals win either way.
The committee will fail by design, the House wont raise taxes any more than House democrats cutting entitlement spending. The trigger will go into effect with total defense cuts at $1T. Then the new congress and possibly president can decide what to do with those cuts and (all of) the Bush tax cuts expiration.
Those tax “loopholes” include the home mortgage deduction, which has been in place since the income tax was enacted in 1913.
Making the middle class pay more and making their homes worth less is an UNACCEPTABLE tax increase on the middle class and the red line that better not be crossed, if the Republican party wishes to survive.
Why did they vote for the budget bill and for this super congress thing?
“Because it was the only thing on the table”.
They will vote the same way and for the same reason when this committe presents its proposal.