Democrats May Fall Very Short of Opening Bid in Budget Battle
7:30 PM, Apr 8, 2011 • By MICHAEL WARREN
Depending on what final deal the House GOP and Senate Democrats agree upon to avoid a shutdown, it's worth noting what Harry Reid made as their initial offer. Here's what Reid and other Senate Democrat leaders suggested in a February 8 letter to John Boehner, Eric Cantor, and the rest of the GOP leadership in the House (emphases mine):
That's $20 billion in "closed loopholes" (read: gas taxes) with absolutely no spending cuts. Sources say the talks are now at the point of $38 billion in cuts with no new taxes. If that's the case, it sounds like it could be a pretty big bargaining victory for Speaker Boehner.