Van Hollen: Opposition To More Taxes Paired With Spending Cuts "Recipe For More Gridlock"
JOHN ROBERTS, FOX NEWS: We were talking before the program started. Mitch McConnell, the Senate minority leader, said just a few minutes ago on another Sunday morning program, the revenue piece of this is done. No more taxes. The president wants more taxes. He wants to close some loopholes and limit deductions.
Chris Van Hollen, how is this fight going to unfold as we go forward?
REP. CHRIS VAN HOLLEN (D-MD): Well, if Mitch McConnell is going to draw the line in the sand, it's going to be a recipe for more gridlock. We have to take a balanced approach to long-term deficit reduction -- meaning additional cuts.
And remember, last year, the president signed in law more than $1.5 trillion in cuts, 100 percent cuts. As a result of avoiding the "fiscal cliff", we raised $730 billion in revenue from very high income individuals.
As we go forward, we need to adopt the same frame work as the bipartisan Simpson-Bowles commission. Meaning, a combination of cuts and revenue.
You remember during the campaign when, you know, you saw the Republican candidate and Paul Ryan talking about all those the breaks in the loopholes in the tax code that disproportionately benefit very wealthy people, guess what? They are still there. So, through tax reform, we can raise more revenue matched by additional cuts to address the sequester issue and long-term deficit.