Honeywell CEO Says Fiscal Cliff Bill Fails to Address Tax Reform

In an article published in the Wall Street Journal, David Cote says that it’s too soon to celebrate a deal between the House and Senate.

Honeywell CEO David Cote has been very involved in lawmaking. In November, Fox Business reported that Cote joined a handful of other top executives to talk with President Obama about the country's debt crisis.

Now, in a Jan. 2 Wall Street Journal article, Cote says that the deal between the House and the Senate isn’t enough.

“We shouldn’t be sitting here slapping ourselves on the back for a great job,” Cote said in the article. “All it did was address the fiscal cliff problem and set us up for a debt ceiling debacle.”

Golden Valley’s Honeywell CEO isn’t the only local person to have an opinion about the so-called fiscal cliff legislation. Fifth District Rep. Keith Ellison voted in favor of the package, but had reservations.

“The primary problem with this bill is it tees up an even more difficult fight in two months over letting the country pay its debts and replacing indiscriminate cuts to programs Americans rely on,” Ellison said. “In the upcoming negotiations, we must continue to stand strong and oppose benefit cuts for families who rely on Medicare, Medicaid, or Social Security.”

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