WASHINGTON (MNI) – The leaders of both House and Senate Republicans
Wednesday announced their appointees to the 12-member “super” committee
charged with finding an additional $1.5 trillion in deficit reduction as
part of the compromise debt deal between the White House and Congress.

House Speaker John Boehner said he intends to appoint
Representatives John Hensarling, Dave Camp, and Fred Upton to the panel,
with Hensarling his pick to serve as co-chair of the committee.

“The lawmakers I have appointed to serve on this joint committee
are proven leaders who have earned the trust and confidence of their
colleagues and constituents. They understand the gravity of our debt
crisis and I appreciate their willingness to serve on this panel,”
Boehner said in a statement.

Hensarling is the Republican Conference Chairman, responsible for
directing day-to-day operations of the GOP caucus in the House, while
Camp is Chairman of the powerful House Ways & Means Committee. Upton
chairs the House Energy & Commerce Committee.

In an almost simultaneous announcement, Senate Minority Leader
Mitch McConnell announced his intent to tap Senators Jon Kyl, Pat
Toomey, and Rob Portman to serve on the panel.

“My main criteria for selecting members was to identify serious,
constructive senators who are interested in achieving a result that
helps to get our nations fiscal house in order,” McConnell said in his
statement announcing the decision. “That means reforming entitlement
programs that are the biggest drivers of our debt, and reforming the tax
code in a way that makes us more competitive and leads to more American
jobs.”

Sen. Kyl is the second ranking Republican in the Senate, and is
also a senior member of the Finance Committee. He was the Senate GOP’s
lead negotiator in the budget talks led by the Vice President Joe Biden
over the summer.

Sen. Toomey is a member of the Budget, Banking, Commerce and Joint
Economic Committees, it should be noted that he voted against the Budget
Control Act and could be a major stumbling block towards a unanimous
agreement by the committee.

Sen. Portman is a former Director of the Office of Management and a
member of the Budget Committee.

The announcements by Boehner and McConnell mean only three
appointments remain to complete the bipartisan committee. Senate
Majority Leader Harry Reid late Tuesday said he was appointing
Democratic Senators Max Baucus, John Kerry and Patty Murray to the
panel.

House Minority Leader Nancy Pelosi has yet make her appointments.
Congressional leaders have until Aug. 16 to make their appointments to
the committee.

** Market News International Washington Bureau: 202-371-2121 **

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