Obama’s ‘Grand Bargain’ Tax Plan Is Hard Sell to GOP
Trusting Obama is the big problem here.
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Lawmakers regarded President Barack Obama’s latest attempt to engage them on an economic proposal as largely irrelevant Tuesday, with neither Democrats nor Republicans viewing it as an actual step forward toward breaking their ongoing budget impasse.
Obama delivered an address in Chattanooga, Tenn., outlining a broad framework “for the middle class” that, among other provisions, would include corporate tax changes, infrastructure projects and an increase in the minimum wage. The package, which the White House touted as a “grand bargain,” included a few items the GOP supports in isolation — closing tax loopholes to lower tax rates, for example. The offer was intended to be an olive branch to the GOP, because it didn’t include any tax increases.
But Republicans either shrugged off or slammed the White House proposal, saying it could undercut talks on either a larger budget framework or a comprehensive tax rewrite.