Representative Aaron Schock's Stance on Tax Cuts and Deficit Reduction

Strategic Insights -

In a live interview with CNN's Wolf Blitzer, Representative Aaron Schock (R-IL) discussed the current situation with tax cuts and deficit reduction. The interview took place on Thursday, November 11, 2010, and focused on the Republican Party's stance on extending the Bush-era tax cuts. Schock, a rising star in the Republican Party, emphasized the need to make tax cuts permanent, particularly for middle-class Americans, while also highlighting concerns about the rising debt and the lack of economic growth.

Key Takeaways:

  • Representative Aaron Schock stated that he would vote yes to extend the Bush-era tax cuts for two years, as long as they were not permanent.
  • He also mentioned that there are 38 House Democrats who support extending the tax cuts for two years, and that if it came to a vote, he believes that most Republicans and Democrats would vote yes.
  • Schock emphasized the importance of small-business people and their role in leading the recovery, stating that they are not making decisions to invest and hire due to uncertainty about the tax environment.
  • He also discussed the Tea Party movement, stating that while he doesn't consider himself a member, he shares their concerns about spending and debt.
  • Schock stated that he favors passing something now on the tax cuts, as he believes that capital is sitting on the sideline and waiting for clarity on the tax environment.
  • He also spoke about the deficit commission's proposal to cut $2 in spending for every $1 in tax increases, and stated that he believes job one is to find cuts, rather than raising taxes.

Statistics:

  • 38 House Democrats have publicly stated that they would support extending the tax cuts for two years.
  • 90 new congressmen are expected to arrive in Washington, D.C. for their freshmen orientation after January 1.
  • $1 in tax increases would be required to generate $2 in spending cuts, as proposed by the deficit commission.

Sources:

  • CNN "The Situation Room" interview with Representative Aaron Schock (R-IL), conducted by Wolf Blitzer on November 11, 2010.
  • Federal News Service, Inc.
  • Federal News Service is a private firm not affiliated with the federal government.