The Hill News

Vice President Biden’s bicameral, bipartisan talks went into the ditch early yesterday when House Majority Leader Eric Cantor (Va.) and Senate Minority Whip Jon Kyl (Ariz.) â€" the top Republicans in the negotiations â€" walked out over a deal that would ultimately involve Republicans agreeing to tax hikes.

A lot of progress had been made theretofore, and Republicans sort of knew when the question would come around to tax hikes to help eat into the nation’s massive debt, it would be gut-check time. Republicans have a great argument â€" this is absolutely the worst time to be raising taxes, on anyone. If you don’t believe there is a ripple effect, just ask the White House why it decided to release millions of gallons of crude from the U.S. Strategic Petroleum Reserves. It knows that even the slightest bit of relief at any consumer outlet â€" the pump, the grocery store, even from the taxman â€" has to be a good thing.

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