The business community is splitting on the issue of the role tax increases should play in reducing the U.S. budget deficit and avoiding the fiscal cliff, according to the Washington Post's WonkBlog. A group that calls itself the Tax Relief Coalition and includes the U.S. Chamber of Commerce and the National Association of Manufacturers this week urged Congress to focus on spending cuts rather than new tax revenue.
The Tax Relief Coalition's call follows a recommendation last month from another group, made up of more than 80 CEOs of major U.S. companies, including Honeywell, J.P. Morgan and UPS, that Congress consider increased taxes as well as spending cuts.
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