Republicans For Raising Taxes?

For decades, Washington has replayed the same fight over taming the soaring national debt: Democrats cite a need for more taxes. Republicans refuse. And anyone who suggests cutting the biggest source of spending — federal retirement benefits — gets attacked.
But a coming crisis in Social Security appears to be pushing at least a few Republicans off the GOP’s long-standing pledge never to raise taxes.

This summer, Sen. Bernie Moreno (R-Ohio) joined Sen. Elizabeth Warren (D-Massachusetts) in proposing to raise the payroll tax cap so people with higher incomes pay more into the program. Now the idea is emerging as an acceptable fix among other GOP lawmakers, including Rep. Tom Cole, the influential chair of the House Appropriations Committee.


“We’ve got too many people who say, ‘Well, we have to stay within the current income level or stay at the current tax rate,’” Cole (Oklahoma) said in an interview. “I’m willing to look at the tax rate. I am willing to raise the amount of income through tax.”

The rare GOP concessions on taxes come as lawmakers begin to confront a Social Security shortfall so large and so imminent that the party’s traditional demand for curtailing benefits is unlikely to suffice. In just six years, millions of Social Security recipients will absorb a 22 percent cut in benefits unless lawmakers provide an immediate infusion of nearly $500 billion.

“Twenty or thirty years ago,” when the shortfall was far in the future, “you could come up with a straight-faced solution” that solved the problem entirely by cutting future benefits, said Charles Blahous, a senior research strategist at George Mason University’s Mercatus Center who served from 2010 to 2015 as the Republican public trustee for Social Security.

Now the problem is so big and urgent, Blahous said, “I don’t think you can look at it with a straight face and not do all of the above.”

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