Republicans and Democrats on Congress's supercommittee are hardening their positions with less than a week until the deadline to propose a plan to cut the U.S. deficit.
Representative Jeb Hensarling of Texas, the panel's Republican co-chairman, said yesterday that his party won't go beyond its offer to increase tax revenue by $300 billion to cut the debt until Democrats offer a plan to address the long-term growth in federal spending on entitlement programs such as Medicare.
"I'm not moving this particular offer," Hensarling told reporters. "I'm still waiting for Democrats to actually solve the problem" of entitlements.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
