You are using an outdated browser. Please upgrade now to a modern browser in order to benefit of all our site's features: Chrome, FireFox, Opera, Safari or Internet Explorer. [Close]

The Official Blog of Fox News Channel

Growing Number of Republicans Signal Willingness to Break Tax Pledge to Avoid Fiscal Cliff

There are new warnings from the White House on the looming ‘fiscal cliff.’ A new report details that a failure to extend the tax cuts for middle class Americans could have a negative impact on the economy. The report comes as more Republicans say they will consider closing certain loopholes in order to raise revenue if Democrats also compromise.

The report reads, in part, “If Congress doesn’t act, middle-class families will see their income taxes go up on January 1st. The typical middle-class family will see their taxes go up by $2,200 next year, negatively impacting businesses and retailers across the nation.”

Doug McKelway reports that while most Republicans are resisting all efforts to increase revenues either through taxes or through closing loopholes, a handful have signaled a willingness to break their pledge with Grover Norquist to raise revenues. They include Senator Saxby Chambliss, Senator Lindsey Graham, and Rep. Peter King.

Leave a Comment0

Today's Front Page Stories

Don't want to keep checking back here for the latest from Fox News? That's cool. We'll come to you ...

Connect with Fox News

Subscribe

Stay connected with the most-trusted name in cable news through exclusive videos, blogs, polls, contests and behind-the-scene details.

Get More Fox!

Greta Is Wired!

GretaWire.com is the official blog of Greta Van Susteren. Get Greta’s breaking news alerts, pictures, videos, polls, and behind-the-scenes exclusives. Plus, speak out on open threads, as well as the live chat page. Connect to the GretaWire community ... and to Greta herself!

Fox News Presents: 'My America with Elisabeth Hasselbeck'

Fox News Channel presents an exciting new feature series, My America with Elisabeth Hasselbeck. From the quirky to the inspirational, "My America" reveals who we are as a nation – driven, passionate and uniquely American. Watch the latest installment, an up-close look at the beloved Oscar Mayer Wienermobile!