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.
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