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Thursday, December 2, 2010

postheadericon DeMint blesses fiscal commission's tax reforms

Sen. Jim DeMint (R-S.C.) have his blessing on Thursday to the series of tax reforms called for by President Obama's fiscal commission.

DeMint, an influential Senate conservative, said he was intrigued by the tax proposals made on Wednesday by the fiscal panel, which call for lower overall rates, but vastly reduced deductions.

"As I look at this proposal, one of the parts that intrigues me the most is the reform of the tax code," DeMint said on "The Early Show" on CBS.

"A simplification of the taxes, elimination of all! deductions, lowering the tax rates for individuals and businesses," he explained. "I think this would do more to reduce the debt and improve the economy and increase employment in the economy -- a lot of things we would do if we would focus on this."

DeMint is not a member of the 18-member commission, but his support could be critical to advancing any of the panel's proposals, should they make their way through Congress. The South Carolina senator is seen as the de-facto leader of a bloc of freshman conservative senators whom he helped elect this fall. That group's support could be key to passing tax reforms, and DeMint's support could lead other conservatives to get on board.

Republicans had been seen as likely to balk at any proposal that remotely resembles a tax hike, especially in the midst of a heated congressional debate over the fate of the Bush tax cuts.

DeMint stopped short of backing all the recommendations, which are set to rece! ive a vote from the 18 commissioners on Friday. If 14 of them ! back the plan, it would head to Congress for an up-or-down vote.

"Some other parts of it I don't like, but I want to consider the whole thing," he said. "I'm frankly appreciative we've started the whole process."

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