Durbin: ‘We Need Some Balance’ In Deficit Reduction

Looking ahead to a negotiations to raise the debt ceiling, Sen. Dick Durbin (D-IL) said Sunday that any deficit reduction that is part of the deal must be done in a “balanced way.” 

Appearing on CNN’s “State of the Union,” Durbin mentioned closing tax loopholes through tax reform as a good option for raising revenues, including on the top one percent who already saw their marginal income tax rates revert back to Clinton-era levels as part of the fiscal cliff agreement.

“There are plenty of things within that tax code, these loopholes where people can park their money on some island offshore and not pay taxes,” Durbin said.