President Obama promises tax hikes for all
President Obama is on the campaign trail promising tax hikes for all Americans. According to the Washington Post, “President Obama is prepared to veto legislation to block year-end tax hikes and spending cuts, collectively known as the “fiscal cliff,” unless Republicans bow to his demand to raise tax rates for the wealthy, administration officials said.” The story termed Obama’s strategy as “hardball,” and the concern is that if Obama wins, he’ll have leverage to force some Republicans to cut a bad bipartisan deal.
The Obama strategy hinges on brinksmanship. If President Obama wins a second term, expect the lame-duck session of Congress to include a negotiation by Republicans and Democrats to get a deal to extend only lower-end reductions in tax rates. Obama will push Republicans to violate the Americans for Tax Reform pledge to increase revenues through the closing of tax preferences. Conservatives should hold the line and save the closing of these loopholes for serious comprehensive tax reform.
EPA job-killing rules
Sen. Jim Inhofe (R-Okla.) has put out a report arguing that the EPA has delayed environmental regulations until after the election because they will kill jobs. These rules include “greenhouse gas regulations to water guidance to the tightening of the ozone standard” that will cause job losses and price hikes after the election.
Lachlan Markay, a reporter for Heritage, says that “tensions between the White House and top environmental regulators flared when the president announced he would delay an EPA rule on ozone emissions until after the election. EPA chief Lisa Jackson was livid, but the president assured her that he would move forward with the rule after the election.”
No wonder the administration delayed implementation until after the voters go to the polls in two weeks.
Brian Darling is Senior Fellow for Government Studies at The Heritage Foundation (heritage.org).