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Mitch McConnell Says Republicans Finished with Tax Issue, Want Deep Spending Cuts

Mitch McConnell
Mitch McConnell

Senate Minority Leader Mitch McConnell revealed in an interview with ABC’s “This Week” that Republicans will focus on spending cuts following the budget negotiations which took place on tax rates last week, according to The Hill.

The next round of negotiations deals with increasing the debt-ceiling so the federal government can borrow enough money to continue to run.

McConnell made it clear that President Obama has already received the extent of Republican cooperation in approving last week’s bill which extend Bush-era tax rates for most taxpayers but raises taxes on individuals earning over $400,000 and households earning over $450,000 a year.

President Obama warned Republicans last Saturday that resistance on increasing the debt-limit would have disastrous results on the economy and that he wants separate discussions on spending and entitlements.

McConnell did not comment on rumors that he supports a partial shutdown of the federal government.

The Kentucky lawmaker forecast that debates on spending will occupy Congress for the next two or three months resulting in other issues, such as gun control, being put aside for now.

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