Statement on Fiscal Cliff

Nov 8, 2012 Issues: Economy

Ways and Means Committee Ranking Member Sander Levin (D-MI) today made the following statement:

“The President's reelection sent a clear message that House Republicans must end their intransigence and sit down on a bipartisan basis to find a balanced approach that combines spending reductions and revenue. We should do so by taking steps to address the time-sensitive end-of-year tax issues, unemployment insurance, Medicare reimbursement and preventing the sequester for a full year.  These vital steps will allow the new Congress to set a course for deficit reduction and tax reform in a transparent and fully bipartisan fashion.

“We must promote further economic growth and avoid the ‘fiscal cliff’ that could jeopardize the progress made recovering from the deep recession. Neither is served by the statements today by Speaker Boehner and Chairman Camp that tax breaks for the very wealthiest must be continued.

“We need tax reform, but not as an excuse for continued stalemate as the fiscal cliff approaches.”