On the recordJuly 17, 2012
Mr. President, one of the foremost threats to our economy is the fiscal cliff. This is an issue my Republican colleagues and I have been talking about for several months now, calling for more transparency in the sequestration that will occur at the end of the year, a replacement of the defense sequester, and actions to prevent a massive tax increase on the American people. Senate Democrats--who have only recently acknowledged the looming fiscal cliff--are now threatening to go over the cliff unless Republicans agree to increasing taxes on America's small businesses during this difficult economic period. Think about that. Senate Democrats are willing to put our economy at serious risk and our national security in jeopardy unless Republicans agree to a massive tax increase on America's small businesses. The headline from a news story in the Washington Post from over the weekend says, ``Democrats Threaten To Go Over Fiscal Cliff If GOP Fails To Raise Taxes.'' They quote, ``Senior Democrats say they are prepared to weather a fiscal event that could plunge the nation back into recession,'' if the New Year arrives without an acceptable compromise-- which they have defined to be a major tax increase on small businesses in this country. Think about the impact of that and what that means to people across this country. We have had now, for the last 3 years, a complete failure in the Senate to produce a budget.…





