In my post yesterday on the Wall Street Journal‘s report of a possible debt plan compromise in the Senate, I mentioned that the included tax overhaul provision might be a point of contention. Sure enough, today the three Republican senators involved in the negotiations, Chambliss, Coburn, and Crapo, sent a letter to Americans for Tax Reform president Grover Norquist affirming that they aren’t going to vote for any plan that raises taxes.
Ramesh Ponnuru notes:
It is hard to believe (a) that tax-policy changes would generate as much increased growth and thus revenue as the dealmakers are aiming for or (b) that Democrats would ever sign a deal that includes no net tax increases and large reductions in planned spending.
