Cantor opens the door to possible compromise in debt-limit talks
A day before congressional leaders meet with President Barack Obama to discuss how to raise the debt limit, the number-two House Republican opened the door to possible compromise, saying Wednesday he is open to closing some of the tax “loopholes” that Democrats have been pushing, but only if those items are offset by reducing taxes in other areas.
“If the president wants to talk loopholes, we’ll be glad to talk loopholes,” House Majority Leader Eric Cantor said at his weekly session with reporters on Capitol Hill.
“We’ve said all along that preferences in the code aren’t something that helps economic growth overall,” Cantor said. But he immediately qualified his comment, noting, “We’re not for any proposal that increases taxes and any type of discussion should be coupled with offsetting tax cuts somewhere else.”