Senator Brown Vows To Change Huge Tax Cuts
U.S. Senator Sherrod Brown says the tax cut deal the President struck with Republicans does not have his vote, at least not the way it stands today. Brown is concerned about the effects huge tax breaks could have on Social Security and Medicare.
Ohio Senator Sherrod Brown does not like what President Obama agreed to with Senate Republicans on tax breaks. The agreement calls for $900 billion in tax cuts and extends Bush-era tax cuts for all including those making over $250,000 for two years. Also in the deal is an additional 13 weeks of unemployment checks to workers whose benefits would be cut. Brown feels the President could have negotiated for more.
"In many ways it seemed the President punted on third down I mean there could have been there was more negotiation to take place to get a better deal," said Brown.
Brown worries that the $700 billion in tax cuts for the wealthy which will come from borrowed money will lead Republicans to again call for deep cuts in Social Security and Medicare. Brown says he plans to work to change the bill.
"I really do still feel there's a way to fix this deal to make it better. The estate tax is basically eliminated for 99 point something Americans and it's another huge tax cut for millionaires and it's a huge tax cut for billionaires," stressed Brown.
Brown says he wants President Obama to live up to his campaign promise to eliminate huge tax cuts.