Business, Economics and Jobs

In Debt Talks, Norquist Holds Republicans to No-Tax Pledge

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Tensions have been escalating  between Republicans and Democrats in debates this week over the debt limit, as they struggle to reach an agreement about the budget by August 2. President Obama will speak about it in a press conference this morning at 11 a.m. (EST).  Heading into the weekend, neither side is budging, and for the Republicans, some say that's in large part because of  one person. Grover Norquist  is the president of  Americans for Tax Reform. For more than two decades, nearly all Republican politicians have signed his pledge not to raise taxes.  That pledge is binding them now, as Norquist has been in contact with Republican leaders to reminding them of it.

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