The debt ceiling deal will pass the Senate early this afternoon. No suspense there. But the vote will be worth watching for another reason: Three Republican Senate sources tell TWS that senators who vote against the deal will be ineligible to serve on the so-called “supercommittee” for deficit reduction that the legislation creates.Read more
Senator Tom Coburn (R., Okla.), a member of the so-called Gang of Six, slams the Senate for dodging votes and offers support for the House Republicans’ recently passed legislation to raise the debt limit in exchange for cutting, capping, and balancing federal spending. The House plan is the only actual legislation that has been proposed — let alone passed — so far (whether by the White House, the Senate, or the House) that would raise the debt limit.Read more
Rep. Buck McKeon (R-Calif.), the chair of the House Armed Services Committee, has released a statement on the Gang of Six deficit reduction proposal:Read more
Jennifer Rubin: "The Senate adviser told me, 'I think a bunch of Republicans are buying into the Gang of Six talking points too quickly.' He predicted, 'I think most will scurry as soon as the real bill is written and all the promises prove false.'”
The American: "The Gang of Six Punts on Cuts in Farm Bill Subsidies"Read more
After much fanfare about a coming bipartisan budget agreement in the Senate, it looks as though rumors that the so-called Gang of Six had fallen apart may be true. Bloomberg reports:
A bipartisan “Gang of Six” senators is unlikely to reach agreement on a proposal to reduce the government’s long-term budget deficits, Senator Tom Coburn said today.Read more
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