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Townhall…
Senator Kyl
Sees Higher Revenues Without a Tax Hike
by Larry Kudlow
A federal budget deal to avoid the fiscal cliff can be achieved without
raising tax rates, Senate Minority Whip Jon Kyl said Friday on the
Kudlow Report.
“Tax revenues can be generated by two ways other than raising tax
rates,” he said. “One is to eliminate some of the deductions, credits,
exemptions, special provisions in the code that end up producing more
revenue but without affecting the rates. And the other is through
economic growth.”
The senator from Arizona said he thought it likely a deal could be
struck to avoid the so-called “fiscal cliff,” a deadline by which the
lack of a federal budget would result in the expiration of the Bush tax
cuts and trigger automatic spending cuts.
Kyl sees additional revenues as the key.
“If we can focus, not on tax rates, but to give the president something
that he wants, more tax revenues, as I said, there are ways to get more
tax revenues,” he said. “Either through and/or producing more wealth as
a country, thus resulting in more taxes paid to the government…
See the video and read the rest of the story at Townhall Finance
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