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Oct 23, 2015 2:37 PM

Steinhauser: Graham spells out plans, takes on rivals, during Fiscal Fridays

NH1 Political Director -

CONCORD –Lindsey Graham says that he’s “got a plan that will degrade and destroy the debt.”

The senator from South Carolina and Republican presidential candidate spelled out his proposals Friday at the NH1 News studios during the latest edition of “Fiscal Fridays.”

“I’ll put a cap on deductions. You can use any deduction you want, but they’ll be a cap or a ceiling. So some upper income Americans are not going to be able to deduct everything they deduct today. I’d take that money and do two things with it. I’d buy down rates to help the economy and I’d put money on debt to get Democrats to do their part of Simpson-Bowles,” Graham told NH1 News.

“If you’re not willing to make that trade off, you’re never going to get tax reform. And if you’re not willing to deal with Democrats on entitlement reform, we’ve become Greece. So the next president of the United States, if you can’t work with a Democrat or a Republican to do what I’ve just described, you’re not ready to be president. And Obama and Boehner got within $400 billion of each other to do this deal. I will close the deal,” he added.

Graham also called out one of his rivals for the Republican nomination, saying “when Ted Cruz says we’re going to eliminate the IRS, that’s not true. He says it. A lot of people want to believe it. But we’re not. You’re not going to get the Democratic party to go to a complete flat tax.”

And he accused GOP front runner Donald Trump of misleading voters.

“I’m not going to tell you Mexico’s going to pay for that wall, because they’re not. I’m not going to tell you we’re going to stop countries from engaging in our economy in a fashion that violates international trade law because people want to hear it. So the one thing Mr. Trump does, he says things he that he can't do," Graham said.

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