WASHINGTON (Reuters) – A bold plan to slash the budget deficit appeared on Thursday to be falling short of the support needed from members of a presidential commission to trigger congressional action.
But the plan had won more backing, from Democrats and Republicans, than many expected in February when President Barack Obama set up the commission with the task of finding ways to cut the $1.3 trillion deficit and $13.8 trillion debt.
WASHINGTON (Reuters) – Republican lawmakers on Thursday met with a senior Federal Reserve official who opposes the central bank’s easy money policies to discuss stripping the Fed of its task of ensuring full employment.
After the meeting with Kansas City Federal Reserve Bank President Thomas Hoenig, the No. 3 Republican in the House of Representatives, Mike Pence, told reporters he continues to think the Fed should focus solely on fighting inflation.
WASHINGTON (Reuters) – Two more lawmakers pledged on Thursday to support a plan to slash the U.S. budget deficit drawn up by the co-chairmen of a presidential commission, but the plan still faced long odds of moving to Congress.
With anxiety over government debt roiling markets in Europe and driving global capital into U.S. Treasury bonds, Republican Senators Tom Coburn and Mike Crapo said they will vote for the bold proposal at a decisive commission meeting on Friday.
WASHINGTON, Dec 2 (Reuters) – Two more lawmakers pledged on
Thursday to support a plan to slash the U.S. budget deficit
drawn up by the co-chairmen of a presidential commission, but
the plan still faced long odds of moving to Congress.
With anxiety over government debt roiling markets in Europe
and driving global capital into U.S. Treasury bonds, Republican
Senators Tom Coburn and Mike Crapo said they will vote for the
bold proposal at a decisive commission meeting on Friday.
WASHINGTON, Dec 1 (Reuters) – A presidential panel on
balancing the U.S. budget on Wednesday revised its fiscal
austerity plan with deeper spending cuts and a more flexible
tax code overhaul, hoping to draw broader political support.
The 18-member commission, established in February by
President Barack Obama, discussed its revised plan at a public
meeting on Capitol Hill. The panel is due to vote on it on
Friday, two days later than originally scheduled.
WASHINGTON (Reuters) – A presidential commission looking for ways to slash the budget deficit postponed final action on Tuesday on a bold fiscal austerity plan after it was unable to gather enough support among panel members.
In a stark display of deep political divisions over tax and spending issues, the 18-member panel led by co-chairmen Alan Simpson and Erskine Bowles put off until Friday a final vote on their plan, which is expected to be unveiled on Wednesday.
WASHINGTON (Reuters) – A presidential commission that is expected to vote later this week on a plan to balance the U.S. budget and cut the deficit may postpone its decision, commission member Representative Jan Schakowsky said on Tuesday.
“There’s a possibility always of postponing the decision. I’ve been asked what my availability is for Friday. I don’t know if that means one more day or more days,” Schakowsky, a Democrat, told Reuters in an interview.
WASHINGTON, Nov 30 (Reuters) – A presidential commission on
balancing the U.S. budget likely will fail on Wednesday to
secure enough support for its deficit-cutting plan to trigger a
congressional vote on it, aides and analysts said.
With just a day left before it releases the plan, the
commission’s co-chairmen were still scrambling to nail down 14
votes among the commission’s 18 members — a super-majority
threshold called for when the panel was created in February.
WASHINGTON (Reuters) – Two more proposals to cut the U.S. budget deficit emerged on Monday, underscoring a deep divide on taxes and spending that is likely to blunt the impact of a plan due in two days from a presidential panel.
The deficit and the national debt have soared in recent years.
The White House sharpened its focus on the issue on Monday, saying U.S. President Barack Obama will propose a two-year freeze on the pay of civilian federal workers.
WASHINGTON, Nov 18 (Reuters) – A proposal to overhaul the
costly Medicare and Medicaid health programs met opposition on
Thursday in a closed-door meeting of a presidential commission
looking for ways to balance the U.S. budget.
As private groups studying the problem of the federal
deficit unleashed a wave of alternative plans, President Barack
Obama’s commission convened again on Capitol Hill with just 12
days left before it must issue a final report.