Pelosi Says Budget Deal Should Raise Taxes on Top Earners
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U.S. House Minority Leader Nancy Pelosi said any budget agreement to avert the so-called fiscal cliff must raise tax rates on the highest earners, a step backed by President Barack Obama.
Pelosi, a California Democrat, couldn’t accept any budget deal that doesn’t raise tax rates on the wealthy, she said in an interview broadcast yesterday on ABC’s “This Week.” She said she’s optimistic that an agreement can be reached, possibly by mid-December, and that eliminating tax loopholes won’t raise enough revenue on their own.