U.S. Senator Chris Coons (D-Del.) today echoed the call of 80 of the top CEOs in American business, including Bank of America and Dow Chemical, who came together to call for a big, balanced deficit reduction plan that includes both spending cuts and revenue increases.
As reported in the Wall Street Journal, these business leaders spoke out "to create a climate in which compromise is possible" and said any successful deficit reduction plan must "include comprehensive and pro-growth tax reform, which broadens the base, lowers rates, raises revenues and reduces the deficit."
"A balanced, bipartisan plan is the only way to responsibly reduce the deficit," Senator Coons said. "These 80 business leaders showed tremendous leadership and foresight in speaking out for a balanced plan, and I hope my colleagues in both parties take their advice to heart. We can't tax our way out of this problem, but we also can't cut our way out -- balance is the only responsible solution."
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