Shot/Chaser: Obama, Cantor, & Corporate Jets

Posted by Brian Patrick on

FYI –

  • Shot: President Obama: “The debt ceiling should not be something that is used as a gun against the heads of the American people to extract tax breaks for corporate jet owners or oil and gas companies that are making billions of dollars because the price of gasoline has gone up so high. (President Obama, Twitter Town Hall, 7/6/11)
  • Chaser: Majority Leader Cantor: “Think about it. Think about the revenues that he is talking about. The changes that he is advocating and the depreciation scheduled for corporate-owned jets is about $3 billion over 10 years. That is in the context of the over $2 trillion in savings that the Biden talks could envision. Now, that is just not serious to say that somehow we Republicans walked out over a corporate jet loophole. It is not the case.” (Majority Leader Cantor, Weekly Pen and Pad, 7/6/11)
  • “I had said all along to the Vice President and others that, first of all, we don't support tax increases, especially in such an ailing economy; and number two, there are no votes for tax increases in the House. And then to hear the President come forward and indicate that somehow that those talks stopped or blew up over loopholes is just not the case ... if the President wants to talk loopholes, we'll be glad to talk loopholes. We've said all along that preferences in the code aren't something that helps economic growth overall. But, listen, we are not for any proposal that increases taxes, and any type of discussion should be coupled with offsetting tax cuts somewhere else.” (Majority Leader Cantor, Weekly Pen and Pad, 7/6/11)
     




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