As the countdown continues towards the looming fiscal cliff, lawmakers are looking towards potential solutions to stop the $600 billion in automatic tax increases and budget cuts from going into effect at midnight on December 31st.
Many on the right side of the Congressional aisle – including all of Idaho’s delegation- have taken a Grover Norquist and Americans for Tax Reform’s Taxpayer Protection Pledge to oppose any and all efforts to raise taxes on individuals and businesses as well as to oppose any net reduction or elimination of deductions and credits. That is unless those are matched dollar for dollar by further reducing tax rates.
The looming fiscal cliff has caused some members of Congress to rethink their position on the oath but for Senator Jim Risch, his signing of the pledge is just another step in a promise to Idahoans over his years in office.
“The issue of tax increases if off the table,” said Senator Risch, “I committed to Idahoans that I would not raise their taxes. I want a compromise and the President has said he wants to raise taxes by $1.6 trillion over the next ten years; I want to decrease taxes over the next ten years by $1.6 trillion. So, there’s kind of a natural compromise right in the middle that we ought to reach.”
A total of 238 Representatives and 41 Senators in the 112th of current legislators have signed the Americans for Tax Reform pledge.
When the 113th Congress takes office in January, 219 Representatives and 39 Senators will have signed the oath.