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This is less then two weeks away but the bad news.
The fiscal cliff isn't far behind house speaker Boehner and President Obama met last night to discuss possible solutions.
For averting disaster but so far nothing.
It's -- compromise -- have to be made but one GOP congressman is going out on a huge -- He's ditching Grover nor qwest's tax pledge to back raising revenues and he says it's the conservative thing to do.
Joining us now to explain why Virginia congressman Scott -- -- appreciate your being here sir and I should point out that.
You told voters before your reelection and I think it was February maybe -- January of this year.
That she's heard not you -- signed Grover Norquist is tax pledge and that you now it no longer made sense.
Why doesn't it make sense why did you change your mind and I got to imagine that your -- and a lot of heat from your colleagues.
Well I'll be happy to have an answer that directly that I first of course just want to express our deep condolences for the families who lost a loved one today.
Anguish is really unimaginable.
Now onto this important topic.
The distance myself for a -- myself as a signer of the pledge back in February.
The second district of Virginia -- businessman a Washington food and overwhelmingly we have a -- an expense problem.
And any agreement that I and a vote for must reduce spending.
Now -- that set -- I've done an analysis of our tax revenue side of things.
And we haven't been at this level of revenue since 1959.
Let's zero point nine somebody in the numbers -- it's really simple.
On average -- that government collects about 17%.
Tax revenue to GDP we're spending right now 24%.
It's on average GDP that's -- -- doesn't add up that's why he said we have to raise taxes.
Well no it's more it's there's more nuanced than that.
The level of spending that we ourselves as the Republicans have voted for.
Is actually higher than the level of revenue that we've locked ourselves into as a result of the Americans for Tax Reform pledge and to me.
Certainly what it means to be a conservative among other things.
Is that we pay our bills and that we we -- that we vote to have the same level of revenue that we ourselves and voted for.
And and and expenditures so.
That's a critical distinction.
And it of course it means -- part of this agreement absolutely must have sharp reductions in spending.
That's why I'm pleased to have to stand with the speaker I think he's on the right thing by putting revenues on the table provided of course they're on the right -- -- -- cuts.
December 12 he sent this letter I'm gonna quote from -- to your colleagues in the congress and you said we need to examine what it means to be a fiscal conservative surely in addition to fighting for smaller government.
It means paying for the size and scope of government.
For which we have voted we hear this message so often from both sides.
They might raise taxes but then they continue to raise spending to an even greater amount -- -- break that cycle because most people I think.
In the citizenry don't believe it will ever be broke.
Well unless there's.
Really a structural aspect to this to where the expenses are truly tied -- any incremental revenues that are generated -- tax reform Italy's my support.
I'm making the case and it's it's not easy to thread this needle that expenses must come down sharply but.
We ourselves I think within our own conference have a have a really a fiscal and math issue we have to deal with.
That this tax code that is layers top with the Americans for Tax Reform pledge.
It basically says -- change the tax code which can't collect one more dollar that means were locked into this revenue.
It's been proven over twelve years -- -- sixteen point 9%.
We haven't run our country on that since 1959.
Their lives Starr's -- There are -- -- -- I interviewed congressman kind yesterday the Democrat who I think talks very similar to the way you talk are you -- -- there.
We don't hear your voice is a whole lot we hear Eric Cantor we -- John Boehner.
How about you guys maybe get a you know rising to the fold is -- some kind of movement take get this debate going forward.
Well I think so and I am a fiscal conservative I voted for the Republican Study Committee budget which is actually reduces spending much sharper than.
The house Republican budget they got so much attention in the election so.
I'm ready cut spending my votes reflect my deep resolve to put this country on a better fiscal track.
But as a businessman -- go with the numbers leave me and a careful examination of our budget leaves me with no.
Other conclusion and mathematically this defensible that.
We have to raise revenue a -- adjusted to -- just to pay for the level of spending that we as Republicans have -- have voted for.
Congressman -- I appreciate your being with me tonight -- just want to let people know you keep referring to yourself as a businessman I refer -- you as -- Ford dealer.
And that's that's an -- -- my book because of a car not you should've sold Studebaker is which probably would be a congressman not yet been selling Studebaker.
May not -- out of the brand thanks so much thank you very much served me well from.