The fiscal cliff is just 33 days away. At stake for all Americans are tax rates, retirement programs, state-run programs, and more. Yesterday the White House announced that Treasury Secretary Timothy Geithner and top Congressional negotiator Rob Nabors will go to Capitol Hill for meetings. Also, Both President Obama and House Speaker John Boehner made optimistic predictions yesterday, but just how close are both sides to compromising—and reaching a deal?
Congressman Phil Gingrey is a Republican from Georgia. He was just named the Vice Chairman of the Energy and Commerce Committee and he's the Chairman of the Republican Doctors Caucus. Rep. Gingrey offers his insight on raising taxes for revenue on “Early Start” this morning.
A signatory to Grover Norquist’s pledge, Rep. Gingrey says, “I’m certainly not going to break a pledge that I’ve made in regard to not raising taxes.” He considers this a pledge to his constituents. “They trust my judgment,” he says. “We know that…keeping taxes low stimulates jobs, and jobs stimulate revenue,” Rep. Gingrey adds. “We’re facing a fiscal grand canyon if we don’t reform Medicare, Medicaid and Social Security."