If Washington doesn’t act during the lame-duck Congress, the Obama tax hike will take effect Jan. 1. That would amount to $4.5 trillion in higher taxes during the next 10 years. The death tax alone will jump to 55 percent.
The stakes could not be higher. The entire U.S. economy could hang in the balance of what happens between Election Day and Dec. 31. Recently the Federal Reserve warned that we are headed for a “fiscal cliff” and called on Congress to act.
Under the best of circumstances, resolving any of these weighty issues could easily take weeks of debate. Stall tactics by Senate Democrats will force a year’s worth of important work into eight short weeks.
The American people expect their elected representatives to lead, not just run out the clock. By wasting time on gimmicks instead of governing, Democrats have shown they do not deserve to lead.
Sen. John Barrasso (Wyo.) is chairman of the Senate Republican Policy Committee.