Washington, DC — Today, U.S. Representative Jim Renacci (OH-16), released the following statement on the looming combination of tax increases and arbitrary spending cuts know as the “fiscal cliff:”

“As we move ever closer to going over the fiscal cliff, I have been stunned by the President’s lack of leadership. Thus far, all he has offered up is a flat-earth economic proposal that didn’t even pass the Democrat-controlled Senate when he introduced a similar plan there each of the last two years. House Republicans responded by offering a blueprint for reforming our tax code and eliminating deductions for top-earners, which would increase revenue without raising tax rates and hammering our small businesses and working families with a larger tax bill.

“Five months ago, at a White House press conference during the campaign, that is exactly what the President said he wanted. However, instead of building consensus and working together to move the ball down the field, the President has decided to move the goal posts. Now, after Republicans compromised on revenue he says that is not enough and that he wants to increase tax rates to appease the radical wing of his political base.

“To add insult to injury, his damaging tax increases will only pay to keep the federal government up and running for eight days. That is not a solution. It is not even a serious proposal. It’s a joke. And it now appears the President and his allies in Congress are willing to destroy our economy by taking us over the cliff with the cynical hope of then scoring political points by doing precisely what they’ve done the past four years—blame someone else. That is not how you lead, it is how we fail. America deserves far better. It is time for our President to stop playing politics and do what he was elected to do, lead.”

A video of the President’s remarks at the July, 2012 press conference can be viewed here.

Rep. Renacci is serving his first term in the U.S. House of Representatives, where he is a member of the Financial Services Committee. Prior to his election he worked as a Certified Public Accountant in the health care industry, and owned and operated over 60 other businesses in the automotive and sports management fields.

# # #