Washington D.C. – House Majority Whip Kevin McCarthy (CA-22) released the following statement regarding the President’s looming tax hikes and devastating defense cuts:
“In just three short months, our economy faces the serious risk of falling back into recession as the direct result of the President’s looming massive tax hikes and devastating automatic defense cuts. The Congressional Budget Office has warned that if we do nothing to stop these tax hikes and automatic cuts, our economy will spiral downward into another recession.
“The House has taken bipartisan action to prevent our economy from going over the fiscal cliff. We have passed legislation to ensure taxes aren’t raised on any American while also protecting our national security in a turbulent world. However, we cannot avert another economic downturn unless the President and Senate Democrats stop their political posturing and work together with us.”