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Chaos in Congress over tax hikes

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    Senator Barrasso demands Congress to act to prevent automatic raise

  • Duration 5:12
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-- there is chaos in congress these days a massive automatic tax increase.

Perhaps that -- -- and ten billion dollars is approaching and now dozens of lawmakers are demanding.

Dear colleagues do something about it and do it now Wyoming senator John brass knows chairman senate.

Republican policy committee and he joins us live senator always a pleasure to talk to you.

The Federal Reserve estimates that the economy will grow roughly two point 9% next year.

If congress does nothing.

And these tax.

Cuts become tax hikes would that wipe out in your judgment all that economic growth.

No it absolutely.

Would it would put us on what -- -- approaching what's been called it a fiscal cliff.

And we're looking at a second recession if these tax hikes are allowed to go forth but.

Yet if the president and congress doesn't do anything.

That's exactly what we're gonna see we're gonna see every taxpayer in the country anyone who works we'll see their taxes go up -- January 1 well.

Given the current economic conditions.

It.

Is there anyone who takes the serious position on either side of the aisle to allow these -- to become tax hikes.

Well it seems that the Democrats by their inaction are are doing just that you know we had.

Five -- so one -- budgets so last year last week in the senate including the president's own.

Budget.

Not one Democrat voted for any one of the budgets I voted for all four of the Republican.

Up proposals the Democrats didn't even vote for the presidents get they have a responsibility.

To pass a budget every year and I think if they're not willing to pass a budget they shouldn't receive.

Any -- people across the country know what they want they want a healthy economy and the Obama economy is not a healthy economy.

But senator what about that cumulative deficit we're looking at -- US national debt clock ticking away right now.

But the deficit is expected to exceed ten trillion over the next ten years.

Enix didn't -- that tax cuts would add an estimated three point seven trillion.

To that so aren't you making that debt and deficit much worse.

Well by raising taxes on all Americans you're actually hurting the economy what we need -- more people.

Working we need an opportunity economy a growth economy a healthy economy ways to get people back to work if we have more people working.

And then paying taxes that's the way for overall tax revenue.

To go up and to deal with this but I -- you're right the deficit is is awful the president continues to spend more and when he wants to raise taxes.

It's not to actually get the deficit under control it's because he has more ideas on how to spend the money and -- -- Mr.

President it's not your money.

But senator there are some Democrats who say wait a minute you now in terms of these tax -- Especially among the rich they don't really spend it -- put it back into the economy they say that.

And so to others so they say it's it -- -- art.

For you to argue that it's gonna hurt the economy.

Well if nothing is done if congress doesn't act and I -- we wrote a letter to the president's they don't let this get into a lame duck session where people will make rush.

Decisions which won't be necessarily.

Good decisions.

If we don't act taxes will go up on every American worker.

Period come January 1 so everyone is going to be hit with this this will hurt the economy.

And people are it's harder to get people back to work in this country right now because of the ongoing threats of increasing taxes.

Because of the regulations that keep coming out of Washington.

The expenses of the health care law.

All of those things make it a lot harder for the job creators.

To hire more people and get the economy going.

-- -- if these tax hikes go -- to place -- January 1 because it in action by congress.

It's going to but it's gonna hurt the country and and really hurt our economy it's.

Always put off to the last minute I mean doesn't this really come down to the usual you know game of chicken both sides know they don't want to tax cuts to expire but -- wait until the last minute.

To try to gain an advantage which means especially in an election year.

A decision won't be made until December given the November 6 election.

That's what I'm trying to avoid Greg and that's -- I sent the letter to the president along with other.

Republican senators even the president has said that an election year is not an excuse for inaction.

But the president with his budget to congress and the results of the the vote by the Democrats all against.

His budget.

Are are such that it seems that the Democrats in congress have their head in the sand and are not interested in dealing with a problem that we ought to be dealing with.

Today not putting off Greg until after the elections I think well people in Washington are unwilling.

To make -- tough decisions they're more concerned about the next election and they -- be more concerned about the next generation to have the outcome of the election may dictate how members of congress could vote on this issue senator John Barrasso as always thank you for dropping by to speak with us.

Thanks so much for having me.

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