WASHINGTON – House Majority Leader Eric Cantor says any deal between the White House and congressional Republicans to avert a government default must include "reforms to the system" so the public will have confidence that Washington can manage the country's finances.
Cantor concedes in an interview on NBC's "Today" show that "special interest loopholes" in the tax code "are never good for growth." But he says Republicans are being wrongly accused of blocking an agreement. The government's borrowing authority expires Aug. 2.
Cantor says differences over such issues as tax breaks for corporate jet owners were not behind his decision to walk out of deficit-reduction talks led by Vice President Joe Biden. The Virginia Republican says "there was a fundamental disagreement over whether we should raise taxes right now. I believe it's counterintuitive."
Cantor's appearance came ahead of a meeting that he and other GOP leaders and leading Democrats will have later Thursday at the White House with President Barack Obama.
