Sen. Mitch McConnell: 'The Tax Issue is Finished'

The Senate minority leader says spending is now the major issue.
1:41 | 01/06/13

Coming up in the next {{countdown}} {{countdownlbl}}

Coming up next:



Skip to this video now

Now Playing:


Related Extras
Related Videos
Video Transcript
Transcript for Sen. Mitch McConnell: 'The Tax Issue is Finished'
I think the president said he's willing to engage in more discussions over the -- in the government -- but that would also include new revenues you say. Then that the tax debate is over. The only other cut the taxes -- revenue the tax issues vanished over completed. -- -- behind us now the question is what are we gonna do about the biggest problem confronting our country. And our future. And that's our spending addiction. It's time to confront it the president surely knows that -- he is mentioned it both publicly and probably. The time to confront it is now. But didn't actually -- -- -- -- -- well let me let me just interrupt here in the last year -- the budget control elected to congress actually cut one point five trillion dollars. In spending that's more than was raise in revenue. -- over this last fiscal cliff feel sorry you saying that. Any discussion of revenue is completely off the table going forward you will not accept any new revenues in any new deal. Yeah absolutely amended tax issues behind us now the question is what are we going to do about the real problem. We wouldn't have this from -- go to -- taxing enough. Unfortunately as a result of the agreement that was reached -- -- -- percent of Americans. Will not see their taxes go up. 500000 small businesses will not -- their taxes go up. The president got a trillion dollars less in revenue than he wanted. That means that money stays in the pockets of the American people now it's time to pivot and turn to the real issue. Which is our spending addiction and we ought to do it together now we all know we've got to quit spending so much.

This transcript has been automatically generated and may not be 100% accurate.

{"id":18144441,"title":"Sen. Mitch McConnell: 'The Tax Issue is Finished'","duration":"1:41","description":"The Senate minority leader says spending is now the major issue.","url":"/ThisWeek/video/sen-mitch-mcconnell-tax-issue-finished-18144441","section":"ThisWeek","mediaType":"default"}