U.S. Sen. Johnny Isakson on Sunday declared himself willing to accept President Barack Obama’s offer of legislation to preserve middle class tax cuts as a last resort – and questioned why Congress was willing to toy with the nation’s 401(k)s.
From his appearance on ABC’s “This Week With George Stephanopoulos”:
Isakson:: “I felt like the House should have gone ahead and passed Speaker Boehner’s bill, because it addressed the subject and we’d still be in negotiation. And the president’s statement is right. No one wants taxes to go up on the middle class. I don’t want them to go up on anybody. But I’m not in the majority in the United State Senate and he’s the president of the United States. If we get down to the end of this year and the only choice we have is to save taxes going up on the middle class, then I would support that.
“But I wish we would have a comprehensive bill that dealt with spending, dealt with entitlements, and dealt with taxes altogether. That’s really what we ought to do.”
Stephanopoulos asked what he thought of the chances of a deal between now and the end of the year. Said Isakson:
”I sold houses for 33 years, George. I’m an eternal optimist, but time is running out. And the truth of the matter is, if we do fall off the cliff, after the president is inaugurated, he’ll come back, propose just what he proposed yesterday when leaving Washington, and we’ll end up adopting it. But why should we put the markets in such turmoil, and the people in such misunderstanding or lack of confidence? Why don’t we go ahead and act now?”
- By Jim Galloway, Political Insider