–House Majority Leader: No ‘Specific Request’ From Admin On Debt Hike
–Rep. Cantor: Must Have Spending Cuts, Budget Reforms For Debt Hike
–Rep. Cantor: Expect Two Meetings This Week Of Biden Panel On Deficits
–Rep. Ryan: House GOP To Unveil Economic Growth And Tax Agenda Thursday
By John Shaw
WASHINGTON (MNI) – House Majority Leader Eric Cantor Monday said
he’s convinced that financial markets do not want Congress to “blindly
raise” the statutory debt ceiling, adding that it’s critical to “make
something real happen” on the legislation to increase the debt ceiling.
At a briefing, Cantor said it’s important to do “tough work” on the
debt ceiling bill.
Cantor repeated that the debt ceiling increase legislation should
include both specific spending cuts and budget process changes. He
repeated that the spending savings should be in “trillions” and should
be at least as large as the increase in the debt ceiling.
Cantor said so far the administration has not made a “specific
request” for how large it would like the debt ceiling increase to be.
The House majority leader said he expects two meetings this week of
the budget talks hosted by Vice President Biden. “Everything is on the
table,” in these talks, he said, adding that so far the negotiations
have led to a “full discussion” of key issues.
Cantor blasted Democrats for failing to offer their own budget plan
and for scorching the plan developed by House Budget Committee Chairman
Paul Ryan. Democrats, he charged, “continue to evade any solution.”
“We are in serious times,” he said.
Ryan said that House Republicans will release their “growth” agenda
on Thursday, adding that tax reform will be a prominent feature of this
agenda. He declined to provide any details.
He said the right kind of tax policy would boost economic growth.
“We’re for more revenues, just not tax increases,” he said.
** Market News International Washington Bureau: (202) 371-2121 **