August 01, 2015 | Updated at 09:30 PM EDT The Latest Entertainment & Celebrity News

Nancy Pelosi: Tax Increase Needed For New Budget Deal

House Democratic leader Nancy Pelosi said any deal made by lawmakers to avoid a year-end "fiscal cliff" has to include tax raises for the wealthy.

By Shiryn Ghermezian, EnStars on Nov 19, 2012 03:26 PM EST
facebook tweet this pin it plus
Sign Up for Newsletter
  • Nancy Pelosi with U.S. troops
  • (Photo : Flickr)

For U.S. House Democratic leader Nancy Pelosi, any deal made by lawmakers to avoid a year-end "fiscal cliff" has to include tax raises for the wealthy, she said Sunday.

In an interview broadcast on ABC television's "This Week," Pelosi said she is confident an agreement can be reached possibly by mid-December, and that avoiding tax increases would not raise enough revenue. She also mentioned that her step has support from President Barack Obama.

"Just to close loopholes is far too little money," Pelosi said. "If it's going to bring in revenue, the president has been very clear that the higher-income people have to pay their fair share...Hopefully it is possible by the middle of December so the confidence of the markets, and most importantly the confidence of the consumers, returns to infuse our -- our economy with -- with demand, which creates jobs."

Pelosi said negotiators, meaning Obama's cabinet and Congress, are working hard to prevent more than $600 million in spending cuts and tax increases scheduled to take effect starting January, according to Bloomberg.

The California democrat expressed similar sentiments at a news conference on Thursday, Nov. 15, stating that Obama should undeniably raise taxes on Americans earning more than $250,000 a year. However, House member Kevin McCarthy (R-Calif.) said Monday to Fox News anchor Bill Hemmer that Pelosi "keeps changing the game plan" with regards to the "fiscal cliff," suggesting that she and President Obama may not be in agreement on the measures that need to be taken.

"Well, the president isn't saying that," McCarthy said in regards to the statements Pelosi made on Monday. "Remember this, that Nancy said last May that it had to be a tax increase on those [earning] a million and more. So she keeps changing the game plan."

Hemmer then said that it sounds like President Obama "is not in lock-step" with Pelosi regarding tax rates and increases, which suggests that the president may choose to not raise taxes.

"Do you see that as a possibility?" Hemmer asked.

"I see that as a possibility," McCarthy said. "I think elections are over. Let's sit down and find a bipartisan way that we can solve this problem, not go to a fiscal cliff while at the same time have a pro-growth agenda where we grow jobs."


© 2015 Enstarz, All rights reserved. Do not reproduce without permission.

Tagged :   nancy pelosi
facebook tweet this pin it plus
Contribute to this Story send us a tip send us a tip send us a tip
Sign Up for Newsletters

Around The Web

  • SEARCH ENSTARS

Ronda Rousey

UFC 190 Live Stream: Watch Ronda Rousey vs Bethe Correia Online @ 10 pm ET

Catch tonight's bout between Ronda Rousey and Bethe Correia with an online live stream

Big Brother

Shelli Melts Down After 'Big Brother' Nomination Ceremony

The power has shifted in the 'Big Brother' house, and it has made for some very exciting live feeds.

Tom Sandoval & Ariana Madix

Are Tom Sandoval & Ariana Madix Still Dating?

Tom Sandoval updated fans on his relationship last night.

Supernatural

Misha Collins Speaks Out On Charlie's Death, LGBT & Female Representation In 'Supernatural'

Collins explains why death is necessary and why the drama doesn't have as many woman as viewers may like

Clyde pressures Ben to make a life-changing decision on the July 31, 2015 episode of 'Days of Our Lives'

Ben Makes A Life-Changing Decision About His Future With Abigail On 'Days of Our Lives'

After pressuring from his father, Ben will propose to Abigail

Ashlyn Pearce

Ashlyn Pearce Speaks Out About Aly's Shocking Death On 'The Bold and the Beautiful'

The actress took to social media to address the trn of events and thank fans for their support.

WWE Raw

Monday Night 'Raw' LIVE STREAM Free: Watch WWE Wrestling 2015 Online @ 8 pm ET

Catch Brock Lessner and the Undertaker live online

Future and Ciara

Future Just Can't Stop Talking About His Ex In Interviews

Future admits to feeling 'embarrassed' for his ex-fiance Ciara.

The cast of 'Days of Our Lives' posing at the 42nd Annual Daytime Emmy Awards

Is 'Days of Our Lives' No Longer In Jeopardy Of Being Canceled?

The show has seen a spike in viewership.

Adiz 'Bambi' Benson

Bambi Gets Way Too Close To Another Man On 'LHHATL' Amid Lil Scrappy Drama

Bambi might have found comfort with an aspiring rapper as she and Lil Scrappy face challenges in their relationship on 'Love & Hip Hop Atlanta.'

Draya Michele & Orlando Scandrick

Draya Michele Rocks Engagement Ring After Split With Orlando Scandrick

Draya Michele proudly wore what looks like her engagement ring after she and Dallas Cowboys star Orlando Scandrick battled it out on social media following their split.

Kandi Burruss

Kandi Burruss Reveals Due Date, Fans Will See Pregnancy Journey On 'RHOA'

Kandi Burruss spills the beans on details of her pregnancy and what fans can expect to see from her on the new season of Bravo's 'The Real Housewives Of Atlanta'

Cecil the Lion

The Internet Is Pissed At An American Dentist Who Killed Cecil The Lion

After Walter Palmer was outed by the media, people took to social media to express outrage at him.

Terrence Howard

'Empire' Star Terrence Howard Faces Real Drama, Ex-Wife Hits Him With Assault Lawsuit, Details Inside [

Terrence Howard is on the top of the world in his career with the new success of 'Empire.' But his personal life is getting the spotlight as his wife claims he physically assaultd her.

Latest News

World Series Of Fighting

WSOF 22 LIVE STREAM: Watch Palhares vs Shields Online @ 10:30 pm ET

Catch an online live stream of tonight's WSOF 22

Ronda Rousey

UFC 190 Live Stream: Watch Ronda Rousey vs Bethe Correia Online @ 10 pm ET

Catch tonight's bout between Ronda Rousey and Bethe Correia with an online live stream

Angie Varona

Angie Varona Bares Her Legs In Full Body Shot

Angie Varona is showing her skin again.

Switched At Birth

Check Out The Impactful Promo For New Episodes Of 'Switched At Birth'

The promo for new episodes of 'Switched at Birth' is finally here!

Raven Symone

Raven Symone Opens Up On Being Body-Shamed As A Child

This society has a habit of body shaming certain men and women, but Raven Symone recalls it happening to her when she was only 7-years-old.

The Whispers

Will Thomas Survive On 'The Whispers?'

Things are getting more dramatic on 'The Whispers' when someone's life is on the line.

Kristen Stewart

'Twilight' Director Opens Up On Kristen Stewart's 'Vampire Orgasms'

It's been nearly three years since the last 'Twilight' movie hit theaters, and the main stars are still getting praise for the work they put in.

Kristin Cavallari

Kristin Cavallari Says She Gets 'More Breakous' During Pregnancy

As Kristin Cavallari waits for the day when her baby girl is born, she opened up on how she goes about her beauty routines with having kids.

Nick Viall

Is Nick Viall Going To Be The Next 'Bachelor?'

Nick Viall is making it no secret that he wants to be the next 'Bachelor.'

Downton Abbey

Find Out When 'Downton Abbey' Will Premiere Its Final Season

A premiere date has been announced for the final season of 'Downton Abbey.'

Real Time Analytics