House Minority Leader Nancy Pelosi (D-CA) categorically rejected a fiscal deal that does not raise tax rates on upper incomes, arguing that “just to close loopholes is far too little money.”
Asked Sunday on ABC’s “This Week” if she’d accept a deal that would hold tax rates constant but cap deductions for high earners, she said, “No.”
“The president made it very clear that there are not enough [deductions] of the sort,” she said, calling that approach “a blueprint for hampering our future” because it would require deeper cuts in investments.
On potential reforms to safety net programs like Medicare and Social Security, something Republicans are calling for, she said, “If that means harming beneficiaries, I don’t think that’s such a good idea.”
