Senate Majority Leader Harry Reid (D-NV) joined the White House and top Democrats in rejecting the GOP's counter-offer on a fiscal cliff deal, lamenting that it harms the middle class and does not raise tax rates on high incomes.
He also indicated that an agreemtn must address the debt limit, which will need to be raised again early next year. "Republicans have made an offer," he said, "but now it is time for them to get serious about forging a balanced approach."
Reid's full statement late Monday:
“To protect millionaires, Speaker Boehner’s offer would force middle class families to pay higher taxes. Raising taxes on the middle class is bad policy and flunks the test of balance. To protect the middle class while reducing the deficit, simple math dictates that tax rates must rise on the top two percent of taxpayers next year. The sooner Republicans grasp that reality, the sooner we can avoid the fiscal cliff.
“Democrats are willing to compromise, but any agreement must protect the middle class. We have also been clear that we have no intention of kicking the can down the road. Not only does Speaker Boehner’s proposal delay revenues into 2013, it sets up another destructive fight over the debt ceiling first thing next year.
“Republicans have made an offer, but now it is time for them to get serious about forging a balanced approach.”