Statement from Foundation Chairman, Pete Peterson, on House Speaker Boehner’s Comments
“We applaud Speaker Boehner’s statement that congressional Republicans are willing to accept new revenues as part of a comprehensive fiscal plan. We are also pleased that President Obama has reached out to congressional leaders on both sides of the aisle. These are encouraging signs that the President and Congress may be moving toward compromise.
There is widespread agreement across the ideological spectrum about the dangers posed by the fiscal cliff, which looms just 54 days away. Our elected leaders should turn the fiscal cliff into a key moment of opportunity to bring the nation together to solve our long-term fiscal challenges.”
Further Reading
Lifting the Debt Ceiling Has Been Paired with Budget Reform in the Past
Earlier this year, the United States once again hit its debt ceiling, which is currently capped at $31.4 trillion.
U.S. Healthcare System Ranks Seventh Worldwide — Innovative but Fiscally Unsustainable
Spending on healthcare in the United States has far outpaced other major healthcare systems without yielding better outcomes.
Infographic: How Are Capital Gains Taxed?
The capital gains tax, which is a levy on said profits, is categorized as part of individual income tax revenues, but it is administered at a lower rate than ordinary income.