
Liberals and progressive groups are livid at a Sunday New York Times report, which reads as if Super Committee Democrats are about to capitulate to the GOP: spending cuts now in exchange for the promise of higher revenues later. But Democratic aides privy to the negotiations say the angry reaction misreads the Dems' position. And indeed the most recent Democratic offer to Super Committee Republicans would have squared this issue by automatically nullifying entitlement cuts if future tax legislation didn't raise revenues.
The Times story is based on a comment Republican co-chair Rep. Jeb Hensarling (R-TX) made on CNN's Sunday show State of the Union.
Under this approach, the panel would decide on the amount of new revenue to be raised but would leave it to the tax-writing committees of Congress to fill in details next year, well beyond the Nov. 23 deadline for the panel itself to reach an agreement. That would put off painful political decisions but ensure that the debate over deficit reduction stretched into the election year."There could be a two-step process that would hopefully give us pro-growth tax reform," Representative Jeb Hensarling of Texas, the top Republican on the panel.
Progressives took this to imply surrender.
PERMALINK | COMMENTS | RECOMMEND RECOMMEND (0)
