The congressional debt supercommittee is continuing to take shape, as the Republican and Democratic leaders of the panel have selected a longtime GOP staffer as its staff director.
Sen. Patty MurrayPatty MurrayWeek ahead: Senate panel to vote on Trump's FDA pick Overnight Healthcare: GOP healthcare talks stall | Ryan takes backset to Pence in new repeal effort | FDA nominee grilled over industry ties Senators battle over FDA nominee's financial ties MORE (D-Wash.) and Rep. Jeb Hensarling (R-Texas), who serve as the committee’s co-chairmen, announced Tuesday that Mark Prater will serve as staff director for the panel. Prater currently is the deputy staff director and chief tax counsel for Republicans on the Senate Finance Committee.
“Mark has a well-earned reputation for being a workhorse who members of both parties have relied on,” they said. “We look forward to working with him and are confident that his approach and expertise will be valuable as we weigh the difficult but necessary choices ahead.”
He also is a member of the Oregon and Washington state bars and is a certified public accountant in Washington state.
The supercommittee is charged with coming up with $1.5 trillion in deficit cuts by Nov. 23. If the group cannot specify at least $1.2 trillion in cuts, automatic cuts will be triggered to domestic and defense spending in 2013.
But many fiscal hawks, along with President Obama, are calling on the panel to exceed its mandate and strive for a grand bargain of at least $3 trillion in deficit cuts.
The supercommittee of 12 lawmakers will also have to deal with competing motives from both parties. Democrats hope to include some economic stimulus in whatever package emerges, while some Republicans want to see some regulatory rollback. The panel has six members from each party and six members from each chamber of Congress.