Cornyn, McCain: We're open to revenue raisers, but no new taxes

Senator John Cornyn, Republican of Texas, said that he would consider the elimination of some tax breaks and corporate subsidies in the context of a reform of the tax code, provided that the program did not bring an overall increase in taxes.

“I think it’s clear that the Republicans are opposed to any tax hikes; particularly during a fragile economic recovery,” Mr. Cornyn said on “Fox News Sunday.” “Now do we believe tax reform is necessary? I would say absolutely.”

But he insisted that any such tax reform be “revenue neutral,” meaning that the government would not take in any more money from individuals or businesses than it does now.

Senator John McCain, Republican of Arizona, said he would be willing to consider some “revenue raisers” as part of a broad deal, but he refused to name specific measures.