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Pelosi: Democrats will push for higher taxes

Posted By -NO AUTHOR- On 01/06/2013 @ 12:56 pm In Money,Politics | No Comments

(POLITICO) — House Minority Leader Nancy Pelosi said on Sunday that Democrats will push for more revenue in the fight over raising the debt ceiling – an issue Republicans say was already settled in the just-completed fiscal cliff deal.

President Barack Obama had wanted $1.6 trillion in new revenue, but settled for $620 billion raised from higher income tax rates for the wealthy.

“That is not enough on the revenue side,” the Democratic congresswoman from California said during on CBS’s “Face the Nation.” “We’re talking about looking at the Tax Code, closing loopholes and special subsidies for Big Oil – that’s $38 billion right there.”


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