Republicans begin to chip away at anti-tax pledge

Several prominent Republicans, such as South Carolina Sen. Lindsay Graham (pictured above), are backing away from a pledge they made to the anti-tax activist Grover Norquist.

Members of Congress are back at work today with a little over a month to go until automatic spending cuts and tax increases take effect, otherwise known as the fiscal cliff. In the latest twist, several prominent Republicans are now backing away from a anti-tax pledge they made to activist Grover Norquist, which could make it easier for the parties to reach a deal.

One such Republican leader is Senator Lindsay Graham of South Carolina. He recently indicated a willingness to discuss increasing federal revenue: "It's fair to ask my party to put revenue on the table, we are below historic averages," says Graham. 

Yet Graham, like other Republicans, remains unmoved when it comes to tax rates. "They are willing to work around the tax code, and in the details of the tax code, so long as the actual rates don't change," says Politico reporter Tim Mak

About the author

Jeremy Hobson is host of Marketplace Morning Report, where he looks at business news from a global perspective to prepare listeners for the day ahead.

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