U.S. Rep. Paul Ryan said Thursday he will vote against a presidential commission plan to reduce the U.S. deficit, saying it does too little to tackle health care costs and relies too much on tax increases. Get the full story »
Inside these posts: Erskine Bowles
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Debt commission to change draft to broaden support
The chairmen of the White House’s debt-reduction commission are making last-minute changes to their provocative early draft in an effort to broaden support before a crucial Wednesday vote, people familiar with the matter said.
The co-chairmen, Democrat Erskine Bowles and former Republican Sen. Alan Simpson, need 14 of the 18 members to support their proposal in order to issue a formal recommendation, which could then be voted on by Congress before the end of the year. Get the full story »
Deficit panel: Tough report won’t be softened
Deficit reduction commission co-chairman Erskine Bowles says he won’t “do a whitewash” on the call for austerity measures merely to get a bipartisan consensus among panelists.
Former White House chief of staff Erskine Bowles and former Sen. Alan Simpson released recommendations last week calling for steep cuts in Medicare, lifting the Social Security retirement age and increasing taxes, including a 15 percent hike in federal gasoline tax. Get the full story »