We want $1 trillion in new revenues, Democrats say

01/7/2013 | Hill, The

Democrats last week managed to pass a tax deal raising $620 billion over the next decade -- but they say the next step is a more sweeping measure to raise $2 trillion, half of which would have to come from tax increases. That looks set to trigger a big clash with GOP lawmakers, who say additional tax hikes should be taken off the table before deficit talks recommence. "We don't have this problem because we tax too little. We have it because we spend way, way too much," Senate Republican Leader Mitch McConnell said Sunday.

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