The 98 percent solution to the fiscal cliff situation makes absolute sense. Republicans, Democrats and President Obama all agree we shouldn’t raise taxes on 98 percent of American taxpayers on Jan. 1. That would be a disaster for the economy.
The big question is how to reduce the deficit. This involves long-term tax reform, as well as cuts in domestic programs and military spending. But these decisions affect so many people, we need a major public debate on this that will take much longer than a few weeks.
I urge our representatives in Congress to immediately freeze tax rates for 98 percent of Americans and small businesses. This will let businesses, consumers and the markets know what to expect next year and keep the economy going in the right direction.
To continue the ideologic gridlock in Congress that created this situation is just not an option.