Sen. Carper Statement on Fiscal Cliff

WASHINGTON – Today, Sen. Tom Carper (D-Del.) released the following statement on the fiscal cliff:

“I believe that Congress, the Administration and the American people can all agree that we need to work together in order to avert the so-called “fiscal cliff” — drastic spending cuts and tax increases for the middle class scheduled to begin on January 1, 2013. In order to avoid going over the cliff, however, Congress must make a number of tough choices. It will require shared sacrifice and cooperation from Republicans and Democrats.

“Today, President Obama made it clear that he wanted a balanced approach to deficit reduction. I agree. My preferred approach is something that borrows heavily from the blueprint put forward by President Clinton’s former Chief of Staff Erskine Bowles and former Republican Senator Alan Simpson. The Bowles-Simpson proposal is a smart plan that puts everything on the table, not just spending cuts. Importantly, Bowles-Simpson would also raise revenue through comprehensive tax reform that eliminates loopholes and lowers tax rates for families and small businesses.

“I welcome President Obama’s leadership in seeking a thoughtful and balanced compromise that solves this pressing issue and helps strengthen our economic recovery. I am encouraged that in his remarks today, the President indicated willingness to compromise and address this budget issue immediately. He also made it clear that Congressional Republicans must be willing to do the same, particularly when it comes to the issue of revenues. No one wants to see middle class taxes go up on January 1, including my friends on the other side of the aisle.

“If Congress and the Administration fail to reach a compromise, these harmful cuts and tax increases will side-track our economic recovery and place an undue burden on millions of already-struggling families in Delaware and across the nation. I urge my colleagues to put politics aside, roll up our sleeves, and do what’s right for our nation now and for generations to come.”