A taxing situation

22 Mar 2011 By James Pethokoukis

Arguably since 1990 and certainly of late, the party has rejected any hint of higher taxes. But America’s yawning budget shortfall is cracking that political unity. The outcome of this brewing Republican civil war may decide whether a fiscal fix is possible any time soon.

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President Barack Obama's debt commission has advocated raising taxes to bring in nearly $1 trillion of extra revenue over 10 years to help reduce debt. Among those signing on to the panel's recommendations last December were three conservative Republican senators: Tom Coburn of Oklahoma, Mike Crapo of Idaho, and Judd Gregg of New Hampshire.

Another senator, Saxby Chambliss of Georgia, is now among a bipartisan "Gang of Six" in the U.S. Senate pushing a bill that is currently working to turn the commission's proposals into law. Also, Jeff Sessions, the ranking Republican on the Senate Banking Committee, says he is keeping an open mind on raising taxes.

Americans for Tax reform, an influential antitax group, has warned Chambliss, Coburn and Crapo not to violate a pledge they made to reject tax increases. And top House Republicans have said tax increases are off the table.

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