|
 |
 |
|
Conrad not ruling out reconciliation language for budget draft
-
04/20/10 01:54 PM ET
The budget resolution being drafted by Senate Democrats may include reconciliation instructions that could ease the passage of an extension of the expiring Bush-era tax cuts.
Senate Budget Committee Chairman Kent Conrad (D-N.D.) wouldn't talk about his budget draft when asked about reconciliation language heading into meetings with fellow Democrats Tuesday.
After he briefs Democrats on the budget, Conrad is expected to release a summary of his draft Tuesday evening.
Conrad had said Monday that he had yet to be asked by the White House or Senate leaders to include the reconciliation instructions, which allow legislation that has a fiscal impact to move through the Senate with a simple majority instead of 60 votes.
The reconciliation process was used 10 years ago with the support of Republicans to enact the tax cuts, which are scheduled to expire at the end of the year. President Barack Obama and Democrats in Congress have backed extending the tax cuts for all but those in the top two tax brackets, who make more than $250,000 a year.
Sen. Judd Gregg (N.H.), the top Republican on the Senate Budget Committee, said reconciliation wouldn't be a proper use to extend tax cuts.
When asked by The Hill what is different about using reconciliation this year, Gregg said, "10 years."
In 2001, the federal government was running a surplus. Since then, it has run deficits and is expected by the Congressional Budget Office to run deficits averaging nearly $1 trillion for the next decade under Obama's policies.
An extension of the tax cuts would likely increase debt, as Democrats have said they plan to pass them without finding an offset to their costs.
Senate Budget Committee Chairman Kent Conrad (D-N.D.) wouldn't talk about his budget draft when asked about reconciliation language heading into meetings with fellow Democrats Tuesday.
Conrad had said Monday that he had yet to be asked by the White House or Senate leaders to include the reconciliation instructions, which allow legislation that has a fiscal impact to move through the Senate with a simple majority instead of 60 votes.
The reconciliation process was used 10 years ago with the support of Republicans to enact the tax cuts, which are scheduled to expire at the end of the year. President Barack Obama and Democrats in Congress have backed extending the tax cuts for all but those in the top two tax brackets, who make more than $250,000 a year.
Sen. Judd Gregg (N.H.), the top Republican on the Senate Budget Committee, said reconciliation wouldn't be a proper use to extend tax cuts.
When asked by The Hill what is different about using reconciliation this year, Gregg said, "10 years."
In 2001, the federal government was running a surplus. Since then, it has run deficits and is expected by the Congressional Budget Office to run deficits averaging nearly $1 trillion for the next decade under Obama's policies.
An extension of the tax cuts would likely increase debt, as Democrats have said they plan to pass them without finding an offset to their costs.
Most Viewed RSS Feed »
