WASHINGTON (AP) — Congress' debt reduction supercommittee should consider overhauling the tax code and revamping Social Security, Medicare and a host of programs for the poor, a group of Senate Republicans urged Friday.
In a letter to the special panel, Finance Committee Republicans laid out an ambitious agenda of tackling some of the most complicated, contentious issues and some of the most staunchly defended programs that lawmakers ever handle. It is unclear whether the bipartisan supercommittee, which has until Nov. 23 to recommend at least $1.2 trillion in debt reduction, will have the time or unity necessary to address the proposals head-on.
The GOP senators said that while a tax overhaul should lower rates and eliminate loopholes, it should end up yielding no additional revenue. Democrats want to raise taxes, particularly on the rich, as a way of finding budget savings.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
