GOP says weak job report means no tax hikes

July 8, 2011 7:03:26 AM PDT
Top congressional Republicans say a report that few new jobs were created last month shows this is not the time for the government to be raising taxes. With the Obama administration and Congress looking for a compromise on raising the debt limit and cutting federal deficits, House Speaker John Boehner says that a package that raises taxes on small businesses would make things worse and wouldn't pass the GOP-run House. House Majority Leader Eric Cantor says the same thing, adding, "Republicans will not agree to tax increases. Period."

Obama has insisted that some revenue increases be included in a deficit-reduction plan.

The Labor Department said Friday that the economy added only 18,000 jobs last month. The unemployment rate ticked up slightly to 9.2 percent.