Senate Republican Leader Mitch McConnell (Ky.) blasted Democrats for playing politics with tax policy before a scheduled meeting with President Obama at the White House.
McConnell slammed the latest proposal from Sen. Charles Schumer (D-N.Y.), who has been tapped to head a new Senate Democratic policy and messaging shop in the 112th Congress.
Schumer has called for colleagues to consider an extension of tax rates only for families earning less than $1 million. Democratic strategists say that setting the threshold at $1 million for extending Bush-era tax cuts could gain more public support than Obama’s plan to raise taxes on families earning over $250,000.
“Where did that number come from?” McConnell said of the new proposed threshold. “Well, it turns out this figure has no economic justification whatsoever. Nowhere will you find a study or survey which indicates that raising taxes on small businesses with over $1 million in income will create jobs or help spur the economy.”