Democrats on the Joint Select Committee on Deficit Reduction last week floated a proposal that includes massive tax increases on wealthy Americans. While their plan would also include some cuts to entitlement programs, the tax-code changes make up a significant portion, according to press reports. The Los Angeles Times reported: …
For months now the so-called super committee has been meeting in secret, tasked with delivering a budget-cutting (er… make that deficit-cutting) plan. Many have doubted they could actually reach their minimum target of $1.2 trillion in cuts. Few, if any, details had leaked—until today, when we learned that the Democrats …
In his straightforward and scathing piece for today’s New York Post, Heritage senior fellow Peter Brookes discussed the devastating impact a sequestration of the defense budget would have on America’s military. If the congressional “super committee” cannot find $1.5 trillion in budget savings over the next 10 years by November …
When it comes to the super-committee’s duty to reform Medicare, you’ll likely to hear the same tired and unsuccessful methods for lowering Medicare’s soaring costs: raising taxes, manipulating payment formulas, or making even deeper payment cuts to doctors and hospitals. The best way to reform Medicare is transform it into …
The Republican members of the Senate Finance Committee recently submitted their recommendations for tax reform to the deficit reduction super committee. Their recommendations lay out the principles they’d like tax reform to adhere to: economic growth, fairness, simplicity, revenue neutrality, permanence, competitiveness, and savings and investment. Towards those ends, the …
Next month, the “super committee” will release its plan to find savings in the federal budget over the next decade. A report from the Senate Finance Committee Republicans outlines a possible route forward and includes reforms to reduce unaffordable federal spending on health care and improve programs like Medicare and …
Senate Finance Committee Republicans have some good advice for the Joint Select Committee on Deficit Reduction (sometimes known as the super committee): Fix Social Security now. As part of a 21-page comprehensive set of recommendations on issues under Finance Committee jurisdiction, the Republicans note that “Social Security reform, aimed at …
Today, the House Natural Resources Committee released its list of recommendations to the deficit reduction super committee. Their recommendations would go a long way to increase revenue for the federal government without raising taxes. The recommendations include increasing energy exploration and production both onshore and offshore, which would increase economic …
