House Speaker John Boehner will call for spending cuts and other federal budget changes at least as large as any increase in the U.S. government’s debt limit.
In prepared remarks for the Peter G. Peterson Foundation’s fiscal summit in Washington today, Boehner said his demand may require a series of short-term increases in the legal cap on borrowing.
“This is the only avenue I see right now to force the elected leadership of this country to solve our structural fiscal balance,” Boehner will say, according to remarks released by his office. “If that means we have to do a series of stop-gap measures, so be it.”
Boehner’s comments mark the latest demand from Republicans on handling a series of fiscal decisions lawmakers are leaving until after the November election. Bush-era income tax cuts are scheduled to expire, as is a temporary reduction in the Social Security payroll tax for workers. Expanded unemployment benefits will run out, $1 trillion in automatic federal spending cuts are due to begin in January, and the government again will be approaching the debt limit.
House Republicans last week voted to cut food stamps and other programs to head off automatic spending cuts scheduled for the Defense Department. House Republicans are calling for cutting and consolidating the number of income tax brackets from six to two, with rates set at 25 percent and 10 percent. The current top rate is 35 percent.
Maybe Boehner has grown some balls?
No comments:
Post a Comment