Cantor: Don't Raise Taxes To Fund Obama's Jobs Plan
Wesley P. Hester
September 12, 2011
In a Capitol Hill news conference this afternoon, House Majority Leader Eric Cantor, R-7th, reiterated his desire to work with the president on certain elements of his job package, but added a caveat.
"I sure hope that the president is not suggesting that we pay for his proposals with a massive tax increase at the end of 2012 on job creators that we're actually counting on to reduce unemployment," Cantor said.
While the jobs bill will be sent to Congress today, the specific methods to pay for the proposed spending in the plan will not be released until next week.
Cantor outlined a number of areas of common ground, including tax relief to small businesses, passage of a trade bill, shedding burdensome regulations and reforming unemployment benefits.
But he also voiced concerns.
"I will tell you that over half, I think, of the total dollar amount is so-called stimulus spending," Cantor said. "We've been there, done that. The country cannot afford more spending like the stimulus bill. It didn't produce the promised results and we can do better."
And while Cantor said he agreed with the president's call for infrastructure investment, he disagreed that it should be handled through an "infrastructure bank" like the one proposed by Sen. Mark R. Warner, D-Va., earlier this year.
"I agree with those who would portray that as creating a Fannie and Freddie for roads and bridges," Cantor said. "I think it is an entity that would not be transparent and we couldn't be accountable to the taxpayers whose money it is to begin with."