(CNN) – Anti-tax activist Grover Norquist said Monday that his group, Americans for Tax Reform, would work to unseat Republicans who break their pledge to never vote for higher taxes.
His vow came after prominent GOP lawmakers said over the weekend they would consider breaking the Taxpayer Protection Pledge in order to reach a deal with Democrats and President Barack Obama to avoid tumbling over the fiscal cliff – the combination of sweeping spending cuts and tax increases that would go into effect at the end of the year if negotiators can't reach a deal on reducing the federal debt.
New York (CNNMoney) - Warren Buffett is again arguing for higher taxes on himself and other high-income individuals, calling for an even steeper bite than in the Obama administration's so-called "Buffett Rule."
In an op-ed column in Monday's New York Times, Buffett advocates that taxable income of between $1 million and $10 million should be taxed at a minimum 30% rate, and that income above $10 million should be taxed at 35%.FULL STORY
New York (CNNMoney) - Leaders in Washington say they want to make a "down payment" on deficit reduction and avert the fiscal cliff.
But the size of any down payment depends in large part on whether the two sides can agree on taxing the rich.FULL STORY
(CNN) - Rep. Shelley Moore Capito, the West Virginia congresswoman who was re-elected earlier this month to a seventh term in the U.S. House of Representatives, announced Monday she is running for U.S. Senate in 2014.
"The senate has been stalemated – hasn't made progress and I believe I can contribute to moving forward, working together and solving the problems and I think it's a great opportunity for our state quite frankly," Capito said in her announcement at the state capitol in Charleston, according to CNN affiliate WSAZ.
Washington (CNN) - A new national poll suggests Americans understand that the "fiscal cliff" is no joking matter.
Two-thirds of people questioned in a CNN/ORC International survey (PDF) say that the U.S. would face a crisis or major problems if the country went off the "fiscal cliff" at the end of the year, and if that happened, Republicans in Congress would probably receive the greater share of the blame.
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CNN: Graham says he'd break no-tax 'pledge'
A leading Republican senator said Sunday he's willing to break the no-tax pledge promoted by activist Grover Norquist if Democrats are willing to help pass spending reforms on government programs like Social Security and Medicare. Sen. Lindsey Graham said he believes capping tax deductions should be part of a plan to reduce the federal debt – a revenue-raising tactic that pushes against Norquist's Taxpayer Protection Pledge.
CNN: McCain says he's open to changing his mind on Susan Rice
Sen. John McCain, who has led the effort to discredit Susan Rice, the U.S. ambassador to the United Nations, said Sunday he was willing to listen to Rice's testimony if she's nominated to become the next secretary of state. McCain has criticized Rice for her statements immediately following the September attacks at the U.S. Consulate in Benghazi, Libya, which Rice initially described as stemming from protests against an anti-Islam video. Later her remarks came under scrutiny as further information suggested the attack was a premeditated assault.