ObamaGOP overlap Public works corporate taxes defense

first_imgWASHINGTON — Boosting tax credits for the working poor emerged as one area of common ground as administration officials testified Tuesday on President Barack Obama’s budget for 2016.House Ways and Means Committee Chairman Paul Ryan, R-Wis., who agrees with Obama on extending the earned income tax credit to more workers without children, said he hoped that lawmakers and the administration could agree on ways to finance expanding the credit.“Let’s see if we can make the reforms pay for these groups,” Ryan said. “That would be enormous step in the right direction and that too perhaps could lead to a bipartisan common ground.”But there was little sign of cooperation at the Senate Budget Committee, where Obama’s budget director Shaun Donovan defended the $4 trillion plan as stabilizing the deficit while raising taxes to ease the “mindless austerity” of automatic spending cuts known as sequestration. “I want to emphasize that every investment in the budget — including both the discretionary investments made possible by reversing sequestration and mandatory (spending) and tax changes — are more than paid for through spending or tax reforms,” he said.last_img read more