House Minority Leader Nancy Pelosi (D-CA) said on CBS’ Face the Nation that the fiscal cliff deal does not mean that Congress is done looking for new tax revenue.
Pelosi said the deal struck “is not enough on the revenue side,” although it was significant.
“We’ve already agreed to a trillion dollars in spending cuts, over a trillion dollars in spending cuts,” she said in defending her party.
In terms of how to create more revenue, she said that Congress should put “everything on the table from the standpoint of closing loopholes, and we know that we can do that. Special subsidies for big oil, for example, $38 billion right there.”
She said she wanted a “comprehensive view” of tax reform and that “now we have a chance to do that with a, say, heightened awareness by the public, on why we need to do certain things.”
“We’ve changed the rate, the high-end tax rate, 39.6 [percent], very important step, and again there’s much more that we can do by just subjecting it to the scrutiny of what is bringing in revenue, what is creating growth. And we don’t want to hurt that if there’s some tax provisions that create growth, we want to support that,” although she declined to discuss particular provisions or deductions.
Watch the video, via CBS, below.