Democrats’ plan to win the sequestration war: Demand more tax hikes, of course
Senate Democrats are digging in against Republican calls for deeper spending cuts by bringing out some of their favorite punching bags: corporate jets, Wall Street and Big Oil.
With the automatic budget cuts in the sequester coming up next month, Democrats hope to vote on an alternative plan to raise taxes on some of their favorite boogeymen in hopes of shifting the blame when the GOP inevitably rejects it…
According to sources familiar with the matter, Democrats are leaning toward a plan that would be split 50-50 between spending cuts and tax hikes, financed in large part by new taxes on corporate and wealthy taxpayers.
“I’m not identifying replacement cuts — I’m working on a balanced solution,”Mikulski told POLITICO on Thursday. “We’ve already taken those cuts. … I think there’s consensus that we need revenue and there’s also an understanding that we’ve already worked to substantially cut domestic spending.”