Massachusetts: Brown faults Obama debt plan with taxes on rich

U.S. Sen. Scott Brown is criticizing President Barack Obama’s call for $1.5 trillion in new taxes as part of a 10-year deficit reduction package.

The president’s proposal would predominantly hit wealthier taxpayers by letting Bush-era tax cuts for upper income earners expire, limiting deductions for wealthier filers and closing loopholes and ending some corporate tax breaks.

Brown said it would be wrong to raise taxes with the country teetering on the edge of a double dip recession.

The Massachusetts Republican said the country instead needs comprehensive tax reform that would eliminate certain loopholes and credits and use the savings to lower rates for businesses and individuals to encourage more spending and investing.

Obama’s plan would also reduce spending in mandatory benefit programs, including Medicare and Medicaid, by $580 billion.

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