Gibbs reiterates White House not considering a VAT

A value-added tax isn't on the table at this point but could be considered if a bipartisan debt commission recommends it, White House spokesman Robert Gibbs said Wednesday. 

Gibbs reiterated again today that the White House isn't considering the VAT, a consumption tax, and would wait for recommendations from the National Committee on Fiscal Responsibility and Reform, which could include raising taxes and cutting federal spending. 

"It wasn't something the president had under consideration," Gibbs told reporters. 

He added that the president "looks forward to the recommendations" of the panel. 

The 18-member bipartisan debt panel has until Dec. 1 to provide recommendations on how to reduce the federal budget deficit to 3 percent of gross domestic product by 2015. It also will look at getting costs under control for entitlement programs such as Medicare, Medicaid and Social Security. 

President Barack Obama is expected to address the debt panel before their first meeting April 27.