Partly Cloudy
83°
DeKalb, IL
Partly Cloudy|Forecast »

Deficit talks will test the GOP focus on tax rates

WASHINGTON – Republican leaders say the government can raise tax "revenues" without raising tax "rates." But they have yet to detail how they would pursue it.

The distinction might mean little to Americans who end up with larger tax bills even if their tax rates don't change. This politically tricky trade-off is about to take center stage in negotiations over how to reduce the federal deficit and avoid going over the "fiscal cliff" in just seven weeks.

The White House says wealthy Americans must pay a higher tax rate to help produce more revenue to lower the deficit. Congressional Republicans refuse, and many want tax rates to fall instead. But they say they are open to other means of higher tax collections, which might include limits to itemized deductions.

Story Archived

Only the most recent 7 days of articles are available for free. For articles older than 7 days there is a small fee for retrieval from our archive. If you are a registered member of the site, the content is free just by signing in below.

Please sign in with your Comment Member ID and password.

Did you purchase access?

Member ID:
Password:
Forgot Your Password?
Register to comment.

Purchase Access
To allow for flexibility, we offer a variety of options for purchasing articles:
Purchase options


Having trouble?

If you have any technical difficulties, either with your username and password or with the payment options, please contact us by e-mail at archivedesk@shawmedia.com


Reader Poll

How often do you attend organized downtown events in your community?

Often
Sometimes
Rarely
Never