Democrats say they would not accept any budget deal unless it includes tens of billions in new tax revenue. Their opening bid is $1 in new taxes for every $1 in spending cuts to offset the cost of ending sequestration for domestic and defense discretionary spending programs.
They add that Republicans will have added incentive to agree to tax increases because a disproportionate share of the sequester for 2014 will hit defense programs.
Budget experts estimate it would cost about $100 billion to turn off the sequester for fiscal 2014. Richard Kogan of the Center on Budget and Policy Priorities pins the number at $109.3 billion…
A GOP leadership aide said Democrats are deluding themselves if they think Senate Republican Leader Mitch McConnell (Ky.) or Speaker John Boehner (R-Ohio) would go along with any tax increases.