US Rep Cantor Says Now Not Time To Raise Taxes On 'Anybody'
Jared A. Favole
September 13, 2011
WASHINGTON -(Dow Jones)- House Majority Leader Eric Cantor (R., Va.) on Tuesday criticized President Barack Obama's plan to pay for his jobs package with tax increases.
"Now is not the time to raise taxes on anybody," Cantor said at an event hosted by the American Action Forum, a think tank.
Obama proposed paying for his $447 billion jobs plan by ending tax breaks for the wealthy and oil and gas companies, among other groups.
Cantor said he does see some things to agree with in the president's proposal, such as providing tax breaks for small businesses and limiting regulations on the private sector.
Cantor said, without elaborating, that it might be a good idea to peel off the parts of the president's plan Republicans support and pass them.
Cantor said Republicans don't support some of the infrastructure spending in the president's proposal because they see it as a second stimulus measure.
He also said it could be wise to leave attempts to change the tax code to the presidential election because it is such a significant issue and will shape the country's economic future.