Video: Sperling Says GOP Will Cave On Taxes After Seeing ‘Pain’ Caused By Sequester

Photo Credit: KAZVorpalA senior White House official says congressional Republicans who see the damage caused by billions in automatic spending cuts will eventually agree to raise taxes.

Gene Sperling, director of the National Economic Council and assistant to the president for economic policy, said that Republicans will eventually “choose bipartisan compromise over an ideological position,” on Sunday on ABC’s “This Week.”

“As this pain starts to gradually spread to communities” hit by $85 billion in cuts “more Republican colleagues who are concerned about this harm to their constituents will choose bipartisan compromise on revenue raising tax reform with serious entitlement reform,” said Sperling.

“They’ll choose this bipartisan compromise over what is an ideological position that every single penny of deficit reduction going forward must be on the middle class or seniors or children, and that there can’t be one penny that comes from closing loopholes or tax expenditures,” he added.

The automatic across-the-board cuts took effect on Friday after congressional leaders and President Obama were unable to broker a last-minute replacement deal. Democrats are calling for new tax revenues in any deal to replace the sequester, while Republicans insist that only other targeted cuts and entitlement reforms be included.

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