Jim DeMint (Getty Images)
Washington, D.C. (WLTX, AP) - Senator Jim DeMint is blasting the GOP's fiscal cliff counterproposal to President Obama.
DeMint released a statement Tuesday where he dismissed the Republican plan that in part called for increases in revenue.
"Speaker Boehner's $800 billion tax hike will destroy American jobs and allow politicians in Washington to spend even more, while not reducing our $16 trillion debt by a single penny," DeMint said in a statement.
House Republicans are negotiating with the White House to avoid the so-called "fiscal cliff," a series of financial changes that would take effect if Congress and the President can't come up with a debt reduction plan by the end of the year.
The GOP plan would raise $800 billion in revenue but keep the Bush-era tax rates in place. They also proposed increasing the eligibility age for Medicare and lowering cost-of-living increases to Social Security.
The President has proposed raising revenue by $1.6 trillion by ending the Bush tax cuts for wealthiest earners. His plan would exempt Medicare and Social Security from cuts to beneficiaries.
Here's DeMint's full statement:
"Speaker Boehner's $800 billion tax hike will destroy American jobs and allow politicians in Washington to spend even more, while not reducing our $16 trillion debt by a single penny," said Senator DeMint. "This isn't rocket science. Everyone knows that when you take money out of the economy, it destroys jobs, and everyone knows that when you give politicians more money, they spend it. This is why Republicans must oppose tax increases and insist on real spending reductions that shrink the size of government and allow Americans to keep more of their hard-earned money.
"Big government is the cause of our debt crisis, not the solution. Washington has a spending addiction that is shackling our children and grandchildren with unsustainable debt. Conservatives fought for a balanced budget amendment last year precisely because we knew the political establishment in Washington would never stop their tax and spend addiction without it. However, if neither party leadership is going to put forward a serious plan to balance the budget and pay down the debt, we should end this charade. We can stop the fiscal cliff with the bill that House Republicans already passed that simply extends the current tax rates and replaces the defense cuts with reductions in wasteful spending."