Monday, March 5, 2012

Congressmen Secretly Cooking Up Huge Tax And Entitlement Reform To Stabilize The Debt

Joe Weisenthal

We doubt this is actually going to happen, but...

According to Erik Wasson at The Hill, a bi-partisan group of Congressmen are secretly working together to strike a 'grand bargain on taxes and entitlements with an eye towards reducing the national debt, or at least ensuring that the national debt stops growing faster than GDP.

The core House group of roughly 10 negotiators is derived from a larger Gang of 100 lawmakers led by Reps. Mike Simpson (R-Idaho) and Heath Shuler (D-N.C.), who urged the debt supercommittee to strike a grand bargain last year.

That larger group includes GOP centrists like Rep. Steve LaTourette (R-Ohio), who has said Republicans should abandon their no-new-tax-revenue pledge, as well as Tea Party-backed members like Rep. Cynthia Lummis (R-Wyo.).
 

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