Sen. Baucus: Taxes must be part of deficit-cuts
WASHINGTON (Reuters) - U.S. Senator Max Baucus, a member of Vice President Joe Biden's deficit-reduction working group, on Thursday said new revenues had to be part of a balanced deal to reduce spending and increase the country's borrowing authority.
Baucus, a Democrat, made the remarks after House Majority Leader Eric Cantor pulled out of the talks, along with his fellow Republican Senator Jon Kyl. House Speaker John Boehner, also a Republican, insisted tax increases must be off the table because they can't pass the House of Representatives.
But Baucus added: "This is not the end of the matter."
(Reporting by Donna Smith, Editing by Sandra Maler)
- Gaza death toll rises; Hamas fires rockets at Tel Aviv |
- Ukraine jets pound rebels after deadly missile attack |
- Female Yahoo executive sued for sexual harassment
- Teen survivor of Texas shootings says slain family members 'in much better place'
- Trump Plaza in Atlantic City to close, adding to city's woes: report