Business group says Bowles-Simpson wants too much revenue
The coalition was responding to a group of 80 chief executives, who last week called on Washington to come together on a grand bargain on the deficit. The executives making that push are aligned with the Campaign to Fix the Debt — which was started by Bowles and Simpson.
Top officials on both sides of the aisle have expressed support for the basic framework of Bowles-Simpson. But with the results of next week’s election still in doubt, it remains to be seen whether policymakers can come together on a grand bargain after the election.
The pushback from the Tax Relief Coalition comes after liberal groups have also criticized the Fix the Debt group, further underscoring the challenges Washington has in reining in deficits.
Liberals have said that the fiscal commission’s recommendations do not ask enough from the wealthy, and too much from the lower and middle classes.