As Deficit Committee D-Day Looms, Deal Looks Doubtful
With Nov. 23 as the deadline, Republicans still aren’t budging on including taxes in any deficit proposal, while Democrats still are reluctant to allow significant changes to entitlement programs.
Lawmakers Push Financial Transaction Tax as Deficit Deadline Nears
With only two weeks left to reach a deal, lawmakers supporting the bill that would levy a tax on financial transactions urged the Joint Select Committee on Deficit Reduction in a Nov. 8 letter to adopt their proposal.
Obama Deficit Plan Includes $1.5 Trillion in Tax Hikes on Wealthy
President Barack Obama announced Monday his plan to reduce the deficit by more than $3 trillion over the next decade, including $1.5 trillion in tax increases for the wealthy.