The Congressional negotiations being led by Vice President Joseph Biden have now been put on hold as two Republicans, House Majority Leader Eric Cantor and Senator Jon Kyl, announced Thursday that they were withdrawing from the talks until President Barack Obama involves himself directly in the debate over taxes. Republicans have been adamant that no tax increases be included in any deficit reduction deal while Democrats have insisted that revenue enhancements must be a part of any agreement. Whether the closure of tax loopholes and the elimination of certain tax credits constitute tax increases has been a continued point of contention. Cantor’s and Kyl’s possibility of returning to the table is unclear, leaving the future of the negotiations being led by Biden uncertain. Going forward House Speaker John Boehner and President Obama may both need to play a more direct role in guiding the parties toward a solution.
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