Senate Dems: No debt deal with Medicare cuts

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The GOP has mostly stood behind the Medicare proposal, crafted by Rep. Paul RyanPaul RyanOvernight Tech: Trump touts new Wisconsin electronics plant | Lawmakers to unveil email privacy bill | Facebook funds group fighting election hacks Overnight Finance: Fed holds rates steady | Treasury chief looking at online sales taxes | White House, GOP close to releasing tax-reform principles Wisconsin Democrat refuses to be ‘backdrop’ in Trump’s jobs announcement MORE (R-Wis.). But it’s been Democrats who have highlighted the proposal at every opportunity, and they’ve repeatedly called on debt negotiators to say publicly that Medicare cuts are off the table entirely.

If Congress is going to look to the program for savings, Schumer said, the money should come from cuts to the pharmaceutical industry rather than benefit cuts. He cited two policies Democrats have consistently supported: price controls on prescription drugs and extended rebates for people who are eligible for both Medicare and Medicaid.

A deal will be “impossible” if Ryan’s Medicare proposal is included, Schumer said.

The negotiations are aimed at finding a workable solution that both parties can support — which clearly would not describe the Ryan plan.