Skip Navigation

Close and don't show again.

Your browser is out of date.

You may not get the full experience here on National Journal.

Please upgrade your browser to any of the following supported browsers:

Coburn: Hopes for Former Gang of Six Plan Alive Coburn: Hopes for Former Gang of Six Plan Alive

This ad will end in seconds
 
Close X

Not a member? Learn More »

Forget Your Password?

Don't have an account? Register »

Reveal Navigation
 

 

Congress / DEBT TALKS

Coburn: Hopes for Former Gang of Six Plan Alive

“The plan has moved significantly, and it’s where we need to be,” said Sen. Tom Coburn, R-Okla., a one-time member of the Gang of Six who walked out of the group’s talks this spring.(Chip Somodevilla/Getty Images)

photo of Dan  Friedman
July 19, 2011

An outline of a plan from the so-called Gang of Five to slash the deficit by $3.7 trillion over 10 years got a warm reception from about half of the members of the Senate Tuesday morning, buoying hopes the proposal could still be a factor before an Aug. 2 deadline for raising the debt ceiling.

(RELATED: Text of the Executive Summary of the Gang of Six Plan)

From National Journal:
PICTURES: The Odd Jobs of Hill Staffers


Analysts: Murdochgate to Influence FCC Debate on Media Ownership

Cut, Cap and Balance: Provocation or Pressure Release?

PICTURES: NASA's Last Human Mission (For a While)

PICTURES: No Labels Holds Rally for Debt Ceiling Agreement

 

The proposal includes $1 trillion in new revenue, but like Senate Budget Chairman Kent Conrad’s budget proposal, it would be scored as cutting taxes because it would end expensive annual fixes to the Alternative Minimum Tax, senators involved in the discussions said.

(RELATED: GOP Rams Cap Into House For Vote While Debt Talks Deepen)

It includes an immediate $500 billion in spending cuts that could function as a stand-alone proposal, backers added.

“The plan has moved significantly, and it’s where we need to be,” said Sen. Tom Coburn, R-Okla., a one-time member of the Gang of Six who walked out of the group’s talks this spring.

(RELATED: Obama Hails Gang of Six Plan)

Coburn said the proposal could reach the key threshold of 60 votes in the Senate. Other senators were more circumspect, with Sen. Michael Bennet, D-Colo. , saying a “large number of senators are prepared to move on a comprehensive plan.”

But the proposal is not yet legislation, or public, and with both Senate leadership offices cool to it as they work to craft their own fallback bill, and the House likely to oppose the taxes included in the proposal, it remains a longshot for immediate action.

Coburn indicated he had rejoined the gang.

 

Job Board
Search Jobs
Professional Development Program Engineer
American Society of Civil Engineers | Farmington Hills, MI
Biomedical Service Internship Position
American Society of Civil Engineers | Flint, MI
Deputy Director of Transit Operations
American Society of Civil Engineers | San Jose, CA
Structural Engineer
American Society of Civil Engineers | New Haven, CT
Transportation Planner
American Society of Civil Engineers | Salinas, CA
Assessment and Remediation Team Lead
American Society of Civil Engineers | Regina, SK
Quality Systems Manager
American Society of Civil Engineers | Greensboro, NC
Quality Engineer
American Society of Civil Engineers | Attica, IN
Senior Water Resource Project Manager
American Society of Civil Engineers | Fairfax, VA
Civil Engineering
American Society of Civil Engineers | Steamboat Springs, CO
Entry Level Geotechnical Engineer
American Society of Civil Engineers | Albany, NY
Sales Engineer-Process Automation/Instrumentation
American Society of Civil Engineers
Senior Project Manager- Transportation
American Society of Civil Engineers | San Antonio, TX
Materials Engineer 2
American Society of Civil Engineers | IL
Land Surveyor
American Society of Civil Engineers
 
Comments
comments powered by Disqus