Fox News
Expand
Browse All Video
Watch Live

You're watching...

Is a bipartisan tax deal within reach?

Details

  • Description

    Rep. McCarthy responds to Pelosi's comments on 'fiscal cliff'

  • Duration 5:05
  • Date

Clips

Also in this playlist...

Politics Fair and Balanced

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Want to get back to be -- Major issues facing Washington that is your tax dollars in the fiscal -- it hits it about 45 days Democrats say -- attacks -- rates must go up for certain Americans.

But we're Republicans stand on that today Kevin McCarthy house majority whip the California Republican is with me in studio and good morning to you -- -- -- -- -- game and that's good to see you again you picked a good time of the year to be in New York City.

Where are we right now well they just had their first meeting down the White House there is a bipartisan way to do this that he want to make sure that you gather revenues.

But you get a pro growth agenda that means you don't raise the tax rates -- ways to close loopholes limit loopholes.

But you need a pro growth you want to reform the tax -- will we create more jobs you want to harm small business and also the president cuts.

Talks about a balanced approach getting at least two and a half to three times as much in cuts and that's what we're looking at to where can we find.

Those cuts in government where can we take a pro growth agenda and grow this economy for small.

Going to be a very specific about this now brings a lot of folks that they may lose the meaning of the definition when we talk about.

Revenue yes and we talk about tax rates yes because you're talking about the left hand.

Yeah and Nancy Pelosi saying forget it the only way you're going to get a deal.

-- if you raise the tax rates is that a game stopper.

Well the president isn't saying that -- remember this that then Nancy said last may that it had to be a tax increase on those a million and -- -- She keeps changing the game plan that can't be the case if the president just went and change the tax rates but that's pace for eight days where do we go -- there.

The president also says that he wants a balanced approach to and have cuts we haven't heard of where his cuts are.

The difference here is that we're talking about revenue there are ways to do it in a bipartisan manner if you look at that Ernst and young report if you go and race those tax rates.

That's -- small business he -- cut it could cut 700000.

Jobs out of the economy.

So you don't want to hurt the economy had to -- Democrats don't want that either but I what what I hear you saying.

As if the president.

Is nots.

In lockstep and Nancy Pelosi.

When it when it comes -- tax rates -- revenue he -- meaning and suggesting that he may go along with your deal.

As opposed to raising tax rates you see it as a possibility this is.

Possible I think elections are over let's sit down and flying a bipartisan way.

That we can solve this problem not go to -- fiscal cliff while the same time have a pro growth agenda where we grow jobs now watch the president's press conference at.

Did have to be that.

He says he wasn't open to listening to ideas from Republicans speaker Boehner was just down there at the white house on Friday it's the beginning we want to show him if he wants to gain revenues.

Were more than willing to talk about closing loopholes limiting loopholes through which -- would you close well we'll sit down most of Galileo wallop on the table.

There are a lot of ways you can go through but we have to have reforms -- you need to do to.

The structural change.

-- -- Structural change otherwise you can continue to have trillion dollar debt based on your experience in working with -- Obama is he willing to go for significant tax reform.

I'm -- change the whole program.

Look we -- that would be historical we will not get out of this mess without growing this economy and the only way to do that is to have structural reform and tax reform in this isn't something that Republicans have sat back got.

We have passed legislation already.

That sets up the framework.

To have.

Tax reform we've passed it to take away the sequestration that he says in the debate will not happen.

We have already past all that in the house.

Lot of it sits in the senate I need to get to one final point here -- if there is a bill that's presented on the floor of the house that increases the tax rates for people.

Making 250000 dollars or more a million dollars or more per year.

Would that bill pass.

And the house -- representatives Republican leadership that the what the president says he wants a balanced approach.

You cannot get their just by raising the -- tax rates that -- for eight days so what do you do with the rest of the problem.

He's got to find reforms -- -- we have cuts but you gotta grow this economy and the only way to do that is overall tax reform.

That's what we're talking to the president out I mean we're talking to the president about if he wants revenues.

We're not saying notre revenues what we're saying to his.

You don't get that -- Raising the tax -- you get it out by just a new poll just said now this thing into the wall here -- if -- -- tax rates you're saying that does not pass.

Tax breaks not -- -- hurts the economy remember when the Democrats controlled all two years ago.

They had the ability to raise the tax rates what are they saying what the presence that you do not raise rates in a tough economy they chose not to do it.

This economy is still in a very difficult situation.

That Ernst and young report shows he will hit small business which is the best job growth and you'd lose 700000 jobs.

Why would the president change his mind now we want to sit there and a bipartisan way solve this fiscal cliff.

Find the cuts and reform where -- and -- American producer have a good trip home to California -- -- -- here in New York nice to see in person basis in the.

Load More