The lineup of Democrats and Republicans named to a new congressional panel charged with finding $1.5 trillion in budget savings is raising doubts about the prospects for a bipartisan compromise to address the national debt before next year's elections.

U.S. House Speaker John Boehner and Senate Republican leader Mitch McConnell yesterday announced their appointments to the 12-member committee created in the Aug. 2 law that raised the nation's debt limit and averted a default.

Republican Senators Jon Kyl, Pat Toomey and Rob Portman will negotiate with Senate Democrats Patty Murray, John Kerry and Max Baucus, who were chosen Aug. 9 by Senate Democratic leader Harry Reid. Boehner picked House Ways and Means Committee Chairman Dave Camp, Energy and Commerce Committee Chairman Fred Upton and Republican Conference head Jeb Hensarling. House Democratic leader Nancy Pelosi has yet to name her panelists.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 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.