McConnell Rejects Obama’s ‘Further Left’ Grand Bargain

AP

Senate Minority Leader Mitch McConnell (R-KY) joined fellow Republican House Speaker John Boehner Tuesday in rejecting President Barack Obama latest “grand bargain,” which proposes lowering the corporate tax rate in exchange for additional spending to boost infrastructure and the middle-class.

“It’s just a further left version of a widely panned plan he already proposed two years ago, this time with extra goodies for tax and spend liberals,” McConnell said on the Senate floor. “The plan which I just learned about last night lacks meaningful bipartisan input, and the tax hike it includes is going to dampen any boost business might otherwise get to help our economy. In fact, it could actually hurt small businesses and it represents an unmistakable signal that the president has literally backed away from his campaign-era promise to corporate america, that tax reform would be revenue neutral to them.

“I truly hope the president reconsiders this plan and consults with congress before moving any further,” he added.

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Igor Bobic is the assistant editor of Talking Points Memo, helping oversee the site's coverage of politics and policy in Washington. While originally from Bosnia and Herzegovina, Igor feels best at home on the beaches of Southern California. He can be reached at igor@talkingpointsmemo.com.
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