Portman Says Extend All Tax Cuts Temporarily to Reach Debt Deal
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Senator Robert Portman proposed extending the expiring U.S. tax cuts, including those for the wealthy, for six months -- with a trigger that if Congress can’t come up with enough loophole closings that the top rate would rise to 39.6 percent.
The Republican senator from Ohio, in an interview on Bloomberg Television’s Political Capital with Al Hunt airing this weekend, called an extension the only “logical thing to do” on the so-called fiscal cliff, though the White House has said it would reject that idea.