By Erik Wasson - 04/20/11 08:09 PM EDT
“For this commission to succeed, the president must agree to work with us in earnest. Going in, we need a clearly defined mission and a targeted purpose to be accomplished within a specific and binding timeframe,” Cantor said.
Cantor in his statement reiterated that House Republicans will not raise the nation’s $14.3 trillion debt ceiling “if the president and our Democratic colleagues refuse to accept serious reforms that immediately reduce federal spending and end the culture of debt in Washington.”
He said the spending limits must be “binding.”
The deficit talks led by Vice President Joe Biden will kick off on May 5. Senate Minority Whip Jon Kyl (R-Ariz.), Finance Committee Chairman Max Baucus (D-Mont.), Appropriations Committee Chairman Daniel Inouye (D-Hawaii), House Assistant Minority Leader Jim Cyburn (D-S.C.) and House Budget Committee Ranking Member Chris Van Hollen (D-Md.) will also join the meeting.