Budget chief wants plan with 50-50 split between spending cuts and tax hikes – The Hill’s On The Money

Budget chief wants plan with 50-50 split between spending cuts and tax hikes – The Hill’s On The Money.

Sen. Kent Conrad Chairman of the Budget Committee and I won’t say Senate Budget Committee. Because I think thats already Self Evident, Senate Leader Harry Reid’s lead pointman on Fiscal Policy. Is going to release a Deficit Reduction plan and Debt Ceiling bill in the Budget Committee. That will include a combination of Budget Cuts, as well as Tax Hikes on High Earners. Hopefully it will also include ending Corporate Welfare, especially for Big Oil which is doing great on its own right now. Chairman Conrad unlike Chairman Paul Ryan in House and I speak a very similar language on Deficit Reduction and Fiscal Policy as a whole. Chairman Conrad was in the Senate the last time Congress and the Administration. Took on Deficit Reduction in the early, mid and late 90s. He played a role in drafting the 1990 Deficit Reduction Act. Which had a Tax Hikes on High Earners as well as Budget Cuts. In areas where we could afford to cut, like in Cold War defense. Same thing in 1993, 1997 was about Budget Cuts as well as Entitlement Reform. The 1990 and 97 bills being Bi Partisan, the 1993 Clinton bill being Party Line. Chairman Conrad unlike Chairman actually has experience at Deficit Reduction and doing it successfully.

Senate Democrats really should go on record on Deficit Reduction and get the White House on board. And draft their own plan, because the Senate Minority can’t block budget items. They have 53 members, they should form a United Front and pass their own bill in the Senate and send it to the House. And give americans a choice do you want to do Deficit Reduction responsibly or do it by ending Medicare. And giving women Tax Hikes for getting an abortion. It would be a win win for them on policy and political grounds.

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About Erik Schneider

Full-time blogger on a multiple ray of topics and subjects, because of multiple interests.
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