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View Diary: Sen. Chuck Schumer wants to have Bush tax cut fight before election (82 comments)

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  •  it looks like one is being cooked up as we speak (1+ / 0-)
    Recommended by:
    420 forever serve at the most opportune time.

    The Secret Austerity Society: Bipartisan Group Works on Grand Bargain
    There are some different dynamics to the next round of the grand bargain. There are still enough Democrats willing to deal, led by House Minority Whip Steny Hoyer. The White House has de-emphasized a deficit deal, but their budget still shows a blueprint for one, and if they get revenue in exchange, they’ve stated openly that they would make cuts to Medicare and other social programs. So is there a new willingness on the Republican side? According to The Hill, Republicans have joined a bipartisan working group that is preparing a document on deficit reduction.

    A small, bipartisan group of lawmakers in both the House and Senate are secretly drafting deficit grand bargain legislation that cuts entitlements and raises new revenue.

    Unfortunately, I think the following makes the odds on this happening very good...
    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.).
    What’s interesting is that this is originating from the House. You would expect something to build on the Gang of Six in the Senate, which included Republicans. But a back-channel process in the House shows a new receptivity. Apparently this is linked to a Gang of Six process over in the Senate as well.
    The article is well worth reading and this part is well woth noting...
    And the lame duck session represents the moment of lowest accountability for the Congress. Many of these lawmakers won’t be coming back, and voters won’t get to weigh in for another two years. So the secret austerity society meetings are designed, in my view, to come up with off-the-shelf legislation that can be pulled during the lame duck to substitute for the expiring measures. The anonymous sources disclosing this to The Hill as much as admit this: “A source close to the effort said the focus is on drafting now, and negotiators will address when to unveil the result later.
    (emphasis mine)

    without the ants the rainforest dies

    by aliasalias on Mon Mar 05, 2012 at 09:49:39 PM PST

    [ Parent ]

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