RICHMOND, VA (WWBT) - It was the one area where republicans, led by Henrico Congressman Eric Cantor, would not budge in the recent fight over the federal debt ceiling.
Republicans refused to agree to a plan that included any kind of tax increase. Not long after the bill was passed, Cantor, the House Majority Leader, tweeted the following missive: "There are no tax increases in this debt limit bill. Period."
Is that true? Did both sides come to a deal that was absent of an tax increase?
According to the reporters at Politifact Virginia, the Cantor tweet is "mostly true". There is no doubt that in this initial agreement between republicans and democrats, there are no tax increases.
Cantor is correct. Hence the reason that his statement is "mostly true". But the problem for Cantor is that this is just the beginning of this debate.
Lawmakers still must come up with a way to close a significant budget gap. Republicans want more cuts. Democrats want tax increases. According to Politifact Reporter Warren Fiske, that means tax increases could be part of the plan in the future.
"There's a possibility that the special committee could recommend the tax increase. I wouldn't bet very much that's valuable on it, but it's possible that they could recommend a tax increase. It's not totally out of the question," said Fiske.