House Minority Whip Steny Hoyer and Maryland Governor Martin O'Malley spoke with reporters about the current negotiations over the debt ceiling and attempts to bring down the federal deficit. Representative Hoyer indicated that Republicans could allow some of the George W. Bush-era tax breaks expire without voting to increase taxes, which would generate some of the revenue needed to bring the deficit down.They also said that the Republican "Cut, Cap and Balance" bill would hurt states, and also that they believe a long-term solution is needed.
Keywords
Federal Budget, Spending Cuts, Economy