Republican Negotiator Backs Revenue for U.S. Budget Deal

Representative Tom Cole, one of the chief Republican negotiators of a congressional budget deal, said today that he supports raising revenue as part of talks with Senate Democrats.

Cole, an Oklahoma Republican, said that curtailing tax breaks such as the treatment of private equity managers’ carried interest should be part of the negotiations. He also wants to generate money from U.S. companies’ untaxed overseas profits coupled with a revamp of the federal tax code.