Fox News
Expand
Browse All Video
Watch Live

You're watching...

House approves GOP plan to maintain tax rates for all

Details

  • Description

    Republicans seek to prevent 'stifling' economic growth

  • Duration 4:33
  • Date

Clips

Also in this playlist...

Latest News

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Hillary go -- -- -- -- collision course on taxes for every American -- house approving.

A Republican backed plan to keep all the tax rates where they are now.

This a week after the senate passed a democratic plan that raises taxes on high income earners while keeping the tax rates the same for everyone else.

Here's what House Minority Leader Nancy Pelosi had to say about that -- This isn't about.

That the polls yet here points who would rather have a result for the American people didn't issue campaign.

That's for sure that's what we came here to do to get results.

Republicans she's roster -- the chief deputy -- -- good morning to you thanks for him about an hour for.

Thanks bill I don't know how this thing ends.

And I don't know which way were headed but the -- your argument.

Why is it important to keep the tax rates where they are right now where.

Ernst and young came out with a study about ten days ago big accounting firm and -- had a couple of things.

They said if you move forward with the tax plan that the president and leading Democrats are advocating that with -- house debated yesterday.

It would cost the nation 700000.

Jobs -- that doesn't make any sense whatsoever.

In this environment and in your previous segment were you looking at a slow economy and one of the toughest economies.

That we've seen in a generation so our argument is.

Don't do anything that has -- stifling effect or restraining influence on economic growth it's not the Smart move so let's do one thing and that is.

To keep the tax -- certain.

For another year.

But not just for another year for the sake of doing another year alone as a bridge to reforming the tax system and -- getting more I think most Americans are bill.

And that is a recognition that the status quo is completely hands that is.

Let me get the tax reform comprehensive tax reform -- a moment.

Two years ago a 139.

Democrats in the house voted with few months.

What's changed in 24 months.

Well I you know that's.

A question that they of course have to answer any any observer would say.

There's an election that's coming up they have a president that is under performed in the White House.

Unemployment is far higher than they promised during the stimulus.

Credited the United States has been downgraded and so.

In other words the president's policies haven't worked they've made the economy worse and the flash point now weighs.

Do it on a class and -- play it's an old play it's not helpful bill.

Maybe you don't even going back to leader Pelosi words as if to take those at face value are right if the goal is to create an economy that's moving again and what's good for the American public.

You really can't argue that it's best for the American public.

To have an economy where there's 700000.

Jobs that are in place at the at the very least.

Do no harm -- do you.

I don't see this being resolved before November it.

Is that the obvious play here is that logic tells you.

Well I think it's pretty clear where we're making this.

You know we we -- yesterday to bring clarity to this situation.

We will move today toward a comprehensive approach right but we got they play anyway just days left homeless guy here you have the votes in the house the president's not gonna sign it.

Is he gave he's been talking about on -- for -- three.

Right this gets resolved on Election Day the American public is going to pick a direction that will moon.

And it will be largely manifested.

Based on the outcome of the November election and that contrast is very clear and the public gets to pick our comprehensive tax reform it's a big deal today what happens.

What -- is -- -- didn't inform that that takes care.

Here's where the real action -- and we've got paid and tax code right now bill that is simply not competitive and there's no voice.

In the public square today that says a lot of tax code is great it's not great.

So what the house will do is say let's extend the rates for a year but.

But move toward a comprehensive approach that tries to create the most competitive tax jurisdiction here.

Right here in the United States we've got the highest corporate tax rate in the world we've got what's known as that.

And international tax system where we're putting a disadvantage on US companies as -- -- competing around the globe.

We can change that and we can create a buoyancy and competitiveness they can be fantastic.

And that's what we need to be driving.

We'll -- up for that goes Peter Russ thank you for your time -- want to thank bill on the hill today.

Load More