Senate Majority Leader Harry Reid (D-Nev.) on Tuesday slammed Speaker John Boehner’s (R-Ohio) debt offer, which Reid said would raise billions of dollars in taxes on middle-class families.
Reid said Boehner would raise taxes on the middle class to shield “millionaires and billionaires” from feeling “pain” and dismissed the latest Republican proposal to the White House as a “nonstarter.”
“Their proposal would raise taxes on millions of middle-class families,” Reid said on the Senate floor. “Their plan to raise $800 billion in revenue by eliminating popular tax deductions and credits would reach deep into pockets of middle-class families.
“Republicans are so intent on protecting low tax rates for millionaires and billionaires, they’re willing to sacrifice the middle-class families’ economic security to do so,” he added.
Boehner’s plan would raise $800 billion by curtailing a variety of unspecified tax breaks, cut healthcare programs by $600 billion and reduce other mandatory spending by $300 billion.