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Politics : Politics for Pros- moderated
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From: Sr K6/1/2012 12:53:54 PM
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Jeb Bush Says He’d Back Tax Increases To Cut Debt
By Brian Faler - Jun 1, 2012 12:12 PM ET

The brother of former President George W. Bush told a congressional panel in Washington today that he could back a theoretical deficit-reduction package that would include $1 in tax increases for every $10 in spending cuts.

“If you could bring to me a majority of people to say that we’re going to have $10 in spending cuts for $1 of revenue enhancement -- put me in coach,” Bush told the House Budget Committee. “This will prove I’m not running for anything,” he said, prompting laughter from lawmakers and the audience.

“I appreciate your candor,” said Representative Lloyd Doggett, a Texas Democrat who pressed Bush on the issue. Committee Chairman Paul Ryan, a Wisconsin Republican, declined to comment on Bush’s remarks.

The 10-to-1 proposal was rejected by all of the Republican presidential candidates including the presumed nominee, former Massachusetts Governor Mitt Romney, in a debate last August on Fox News. Democrats say that shows Republicans are being unreasonable in the battle over how to reduce the deficit.

Lawmakers in Congress have fought over the deficit for more than a year in part because most Republicans have ruled out tax increases.

Bush said today that as governor he was repeatedly presented with, and rejected signing, an anti-tax pledge sponsored by Grover Norquist that most Republicans in Congress have taken.

To contact the reporter on this story: Brian Faler in Washington at bfaler@bloomberg.net

To contact the editor responsible for this story: Jodi Schneider at jschneider50@bloomberg.net
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