Washington, D.C. – U.S. Senator Rob Portman (R-Ohio) today released the following statement on today’s Congressional Budget Office (CBO) report:

“Today’s CBO report that the President’s plan to impose higher taxes on job creators will drive our economy into a recession in 2013 is the latest evidence that we are careening toward a fiscal cliff.  We are also headed for a steep "regulatory cliff" as several multibillion-dollar regulations that have been postponed are set to go into effect after the November election, further hindering job creation across the nation.  Rather than ignoring these dire warnings, Democrats and Republicans should work together before the election to make sure our fragile economy is not saddled with these devastating tax increases and additional Washington red tape at year end.”

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