–Senate Minority Leader Accuses Dems of ‘Ideological Crusade’ on Taxes
–Repeats Call For 1Year Extension of Bush Era Tax Cuts
–Dem Plan Would ‘Put The Global Economy At Risk’

By John Shaw

WASHINGTON (MNI) – Senate Minority Leader Mitch McConnell Tuesday
hammered Senate Democrats for threatening to allow the nation to go over
the so-called fiscal cliff at the end of the year unless Republicans
agree to a comprehensive deficit reduction package that includes
additional revenues.

In remarks on the Senate floor, McConnell slammed Senate Democrats
who toughened their stance on the fiscal cliff Monday.

Sen. Patty Murray, the fourth ranking Senate Democrat, said Monday
Democrats would like to reach a budget accord with Republicans to avoid
the fiscal cliff, but said they will not accept an agreement that does
not include concessions from Republicans that has additional revenues.

Murray said that Democrats should be willing to let the nation
plunge off the so-called fiscal cliff unless Republicans are willing to
agree to additional revenues as part of a larger deficit reduction plan.

In his remarks Tuesday, McConnell scorched this approach, saying it
would harm the American economy and “put the global economy at risk.”

He accused Democrats of launching an “ideological crusade” by
opposing the extension of all Bush era tax cuts, including those on the
wealthy.

McConnell said the Democratic approach is a “recipe for economic
stagnation and decline.”

“Surely we can do better,” he said.

In her remarks, Murray discussed the deliberations of the so-called
Super Committee last fall which she served on as the co-chair. That
group was charged by the 2011 debt ceiling agreement to find at least
$1.2 trillion in budget savings over a decade.

She said she pushed for a big agreement during those talks, with
both spending cuts and tax increases.

“I wanted to do a big deal, a Grand Bargain,” she said.

She said that Democrats ultimately offered a package with $1.3
trillion in spending cuts and $1.3 trillion in new revenues, but
Republicans rejected that package and offered a plan that provided even
deeper tax cuts to the wealthy.

The fiscal cliff refers to the convergence of three fiscal events
later this year or early next year: the expiration of Bush era tax cuts,
across-the-board spending cuts, and increasing the statutory debt
ceiling.

** MNI Washington Bureau: (202) 371-2121 **

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