On Monday, President Obama announced his plan to extend the Bush-era tax cuts for Americans making less than $250,000. While Republicans are advocating for a tax cut extension for all Americans, President Obama is saying he will veto any such bill that comes his way.
Rep. Jason Chaffetz (R-UT) says raising taxes on the wealthiest 3% of Americans would be detrimental to the economy, he tells Christine Romans on CNN's "Starting Point."
"You don't raise taxes in times of such uncertainty," Rep. Chaffetz says. "We're just saying let's keep the taxes the same."
Rep. Chaffetz adds, "One of the things that I think President Obama fails to recognize is that when he calls for the extension of taxes for just one year, it creates more uncertainty in the market place."
Rep. Chaffetz also says Republican Presidential Candidate Mitt Romney should not cave to Democratic pressure to release more tax returns. Rep. Chaffetz says, "He's been very successful. He's released everything that he's required to release...Governor Romney's been very successful, get over it."
Watch more from Christine Romans' interview with Rep. Chaffetz from CNN's "Starting Point."