–House Speaker Selects Chairs of Ways & Means, Energy & Commerce Panels
–Rep. Boehner Also Selects Rep. Hensarling To Co-Chair New Panel
–Sen. McConnell Names Sens. Kyl, Portman, and Toomey
–Rep. Boehner: Parties Have ‘Fundamental Differences’ About Role of Gov
–House Minority Leader Pelosi Has Until Aug 16 To Name Her Members

By John Shaw

WASHINGTON (MNI) – House Speaker John Boehner and Senate Minority
Leader Mitch McConnell named their appointments Wednesday to the newly
established “super committee” created by the recent debt ceiling law to
cut future budget deficits, tapping aggressive party loyalists.

Boehner, McConnell and Reid have chosen tough-minded party
loyalists rather than dealmaking lawmakers who might be inclined to work
with lawmakers from the other party.

In a statement, Boehner said Wednesday that he’s appointing
Republican congressmen Dave Camp, Fred Upton and Jeb Hensarling to the
newly established “super committee” created by the recent debt limit
law.

Camp is the chairman of the House Ways and Means Committee. Upton
chairs the House Energy and Commerce Committee which has partial
jurisdiction over Medicaid and Medicare. Hensarling sits on the House
Budget Committee and is the House GOP’s conference chairman.

Boehner said the three will work diligently on the new panel, but
did little to suggest the panel will come to an agreement easily.

“The two parties have fundamental differences about government and
its proper role in our society,” he said.

He added that the special committee creates an “opportunity” for
the two parties to come together to forge an agreement.

Boehner named Hensarling the co-chairman of the panel.

Senate Minority Leader Mitch McConnell named Republican senators
Jon Kyl, Pat Toomey and Rob Portman to sit on the panel.

Kyl is the Senate Minority Whip while Portman and Toomey are first
term GOP senators. Portman served as White House budget director for
President George W. Bush.

Boehner’s and McConnell’s selections follow those made Tuesday by
Senate Majority Leader Harry Reid. Reid named Democratic senators Max
Baucus, John Kerry and Patty Murray to be his representatives on the
newly established panel.

Reid named Murray to co-chair the 12 member committee.

Baucus is chairman of the Senate Finance Committee and also was a
member of the budget talks led by Vice President Biden. Kerry is the
chairman of the Senate Foreign Relations Committee, is a member of the
Finance Committee, but has never been considered a fiscal expert.

Murray is the second ranking Democrat on the Senate Appropriations
Committee and is a member of Reid’s leadership team. She also heads up
the Senate Democratic Campaign Committee.

The Joint Select Committee on Deficit Reduction is charged to
submit a report by Nov. 23, 2011 that reduces the deficit by $1.5
trillion between 2012 and 2021.

Its final package, if there is one, must be voted on without
amendment by the House and Senate by Dec. 23, 2011.

If the panel, which will be comprised of six Republicans and six
Democrats, fails to agree on a spending cut package, a budget
enforcement trigger would secure $1.2 trillion in budget savings through
across-the-board cuts.

The cuts would be equally divided between defense and non-defense
programs but would exempt Social Security, Medicaid and low-income
programs.

House Minority Leader Nancy Pelosi has yet to announce her picks.

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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