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Democrats seek $1 trillion in new revenue through tax reform

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    GOP Rep. Jim Jordan says plan won't solve spending problem

  • Duration 4:32
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Nodding your money Democrats say they want to raise as much as a trillion dollars in new revenue which means higher taxes.

Republican congressman Jim Jordan.

Ohio's with the announcer good morning to you back -- and and Dayton Ohio -- trillion dollars -- new revenues.

Apparently the strategy would do it through tax reform.

You're shaking your head already.

Well I mean look that the Democrats always reminds me of Lucy promised and Charlie Brown facts and hold the football this time it.

She never does Democrats always promised give us.

Give us some more of your money and we promise we'll get to the real spending problem later.

Which they never do so.

Taxes always -- additional spending and never get to the spending cuts that they promised so the last thing we want to do is increase the tax burden on American families and job creators.

At a time when when our economy to grow that's just does not conducive to growth is not gonna solve the problem.

Let's address the problem which is spending -- -- for Republicans are gonna focus.

In this upcoming that's never feeling OK let me get to that a second here but Republicans argue for some time he got to get tax reform make the system more fair.

And then you bring in more revenue was that not what what Democrats are saying.

None of that they're doing tax reform that actually increases the overall tax burden we do tax reform.

That's that's revenue neutral are actually lowers rates and lowers the overall burden.

Tax reform that's conducive to economic growth.

There were all for -- but what Democrats want they just got a tax increase last week.

And they didn't cut any spending -- that deal now they want it -- additional taxes and they won't cut any spending up in fact the president said.

Don't even debate this debt ceiling just give me more borrowing authority let me have more revenue selecting continue to -- that's not going to solve the problem.

Bill we got to sixteen trillion dollar debt we're gonna have to cuts and spending are you an agreement -- Mitch McConnell.

This weekend when he said taxes 10 AM table what -- -- -- we resolve this issue.

We have the tests aren't we don't have this -- because we tax too little we have a because we spend way too much.

Now he's -- he's -- but remember the last debt ceiling agreement sixteen months ago two days after the law passed.

We got downgraded our credit rating a week after the bill past the market had dropped thirteen 123 points.

The super committee which this -- in a fight spending reductions fell apart like many of us thought it would.

And that's scheduled cuts in the last agreement which were supposed to take place we're just suspended postponed five days ago in the debt in that fiscal cliff agreement.

So now it's time to raise the debt ceiling again.

And we have yet to cut one dime from the last agreement.

Spending is the problem we have to address that problem okay now Democrats have shown their hand a little bit -- where where they are on this issue for the next round the next debate.

What where are Republicans when it comes to spend.

Well what we've laid out several plans and we we've done a budgeted and and -- house that actually gets to balance the senate has -- done a -- in three years so one of the things I think we should requires.

-- -- It before we increase that the borrowing authority this country why don't you actually put together a plan and -- think about this I I've said this before the eighteen year old Max about the credit card the first thing -- do was cut up the credit card put them on a budget.

What this president -- is no give me a new credit cart and we don't wanna deal budget in fact Harry Reid hasn't done one for three years.

So at least do -- budget and then we'll give you a menu.

And -- of spending reductions we can put in place.

You can't mister president some of these other ones you suggested some of these are the ones that came from the Simpson Bowles commission.

You tell us where you thinking cut spending.

But we are not just gonna give you -- more borrowing authority so you can continue to spent.

We're gonna have to have a solution not a deal actually solve this problem by reducing -- do you think you can get that solution with -- white house with this president -- Democrats in the senate.

I think you can because I think you're gonna see Republicans in this new congress be united in saying look.

It's time to stop the deals the deals always benefit Washington.

You know it's interstate seven of the wealthiest ten counties in the country are in the Washington DC area.

When they put these deals together always benefits the folks who live around the nation's capital and it hurts families and taxpayers -- small business owners across this country.

It's time to forget the deals let's -- a solution let's actually solve this problem.

Put this on country on a path that's actually fiscally sustainable.

Where we don't have a debt crisis in the near future Jim Jordan thank you as a Republican congressman out of Ohio we'll see.

Buckle up it's going to be uninteresting next month and a half and -- -- thank you sir for your time today in day.

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