The Economy & Business
7:04 am
Fri November 30, 2012

Ohio Senator Wants Tax Reform For "Fiscal Cliff"

Ohio's Republican senator sees tax reforms, not letting taxes go up, as the way to ease the nation's fiscal crunch.

Rob Portman says he thinks higher tax rates now for any group would be a mistake. But he says tax changes could be part of a plan that adds revenue while reducing federal spending.

Portman talked with reporters Thursday as Congress and the Barack Obama administration are trying to avoid a year-end "fiscal cliff" that would see tax cuts expire while spending cuts kick in.

Portman was on the congressional deficit "supercommittee" last year that tried to come up with a fix to the fiscal crisis. He supports "pro-growth" tax reforms and spending cutbacks.

Some Democrats have rejected suggestions that closing tax loopholes and ending deductions would be sufficient help.