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Sunday, November 13, 2011

Super Committee May Bail on Taxes

New York Times, Deficit Panel May Put Off Tax Deliberation:

The top Republican on the joint Congressional committee on deficit reduction did not exactly radiate confidence on Sunday about the panel’s ability to reach a sweeping bargain by its Nov. 23 deadline. Instead, he signaled that the panel was contemplating a procedure that would allow it to delay the toughest choices about how to raise taxes.

“Indeed, yes, there could be a two-step process that would hopefully give us pro-growth tax reform,” the lawmaker, Representative Jeb Hensarling of Texas, said on the CNN program “State of the Union.” Under that formula, the bipartisan committee would set broad targets for new revenue to be raised and then essentially leave it to the tax-writing committees of Congress to fill in the details – sometime in 2012.

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Comments

Sure, let's just keep kicking the can down the road.

Posted by: Linda | Nov 14, 2011 9:46:27 AM

Pass the hot potato to the tax writers. Then they can pass it to another bipartisan committee, which can pass it back to the tax writers in another form.

It's obvious to everyone that the name of the game is to avoid making any major change in spending or taxes. In the name of avoiding kicking the can down the road we must meet our self-imposed deadlines by kicking the can down the road. This may be the will of the voters, but even so it's pathetic.

Posted by: AMTbuff | Nov 14, 2011 1:34:05 PM