At his weekly press availability Tuesday, Senate Minority Leader Mitch McConnell signaled his support for a partial extension of the Bush tax cuts, even if it means marginal rates for top earners go up.
“I can’t imagine that I would not be supportive of a proposal that had permanent tax reductions for a substantial portion of the American taxpaying public,” McConnell said.
McConnell was responding to a question about a House GOP fallback plan to extend all rates for income up to $1 million. But his response suggests he’d be supportive of the House passing Senate legislation to lock in tax rates on income up to $250,000.
“My own view would be to not raise taxes on anyone. But we will deal with the package that comes over from the House. The majority will obviously have a chance to change it. And we’ll see what they want to do when it comes over,” he said. “I think it is great that they’re going to send over a proposal that apparently makes permanent the tax rates that…were established during the Bush years for 98 percent of Americans. My preference would be for that rate to apply to all taxpayers.”
