–Senate Majority Leader Reid: House GOP Plan Is ‘More of the Same’
–Sen. Reid: ‘We’re Willing To Compromise’ In Fiscal Cliff Talks
–Sen. Reid: Calls On Boehner To Allow Vote On Senate Tax Cut Plan
By John Shaw
WASHINGTON (MNI) – Senate Majority Leader Harry Reid said Tuesday
that the House Republican fiscal plan is a “non-starter,” but serves the
purpose of starting budget talks.
In remarks on the Senate floor, Reid said House Republicans
“finally showed up” to talks to avert the fiscal cliff, but added that
their package is “more of the same” and is also “lacking in specifics.”
“We’re willing to compromise,” Reid said, but added the House GOP
leadership should allow for a vote on a Senate-passed bill that would
extend Bush era tax cuts for those families making $250,000 or less.
“Let the House vote,” Reid said.
House Speaker John Boehner and his House GOP leadership team sent
President Obama a fiscal counteroffer Monday that calls for $1.4
trillion in spending cuts and $800 billion in additional revenues
through tax reform.
The House GOP’s spending savings include $600 billion from health
care entitlements, $300 billion from other entitlements, $200 billion by
using the chained CPI for indexing benefit programs and $300 billion in
additional discretionary savings.
The $800 billion in revenues “would not be achieved by higher tax
rates,” the House GOP said in a letter to Obama, but through tax reform.
Last week, Obama offered a plan calls for $1.6 trillion in
additional revenues, $600 billion in entitlement savings and $50 billion
for new infrastructure spending.
The administration is also calling for the extension of Bush era
tax cuts for those families making less than $250,000 a year, the
extension of the two percentage point payroll tax reduction that was
first approved in 2010, a renewal of unemployment insurance benefits,
and a housing refinance provision to help homeowners who are underwater
in their mortgages.
** MNI Washington Bureau: (202) 371-2121 **
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