Reid Announces Picks For Debt Committee
Senate Majority Leader Harry Reid (D-Nev.) unveiled his choices to serve on the new Joint Select Committee on Deficit Reduction created within the debt limit deal signed by President Obama last week.
The bipartisan, bicameral panel of twelve will be tasked with finding anywhere from $1-to-$1.5 trillion worth of savings over the next decade. Lawmakers are expected to target domestic and defense budgets, as well as entitlement programs and potential revenue increases.
In a statement on Tuesday, Reid announced that he has tapped Senate Democratic Conference Secretary Patty Murray (D-Wash.), Finance Committee Chairman Max Baucus (D-Mont.) and Foreign Relations Committee Chairman John Kerry (D-Mass.) to represent his caucus.
“As the events of the past week have made clear, the world is watching the work of this committee,” Reid said. “I am confident that Senators Murray, Baucus and Kerry will bring the thoughtfulness, bipartisanship, and commitment to a balanced approach that will produce the best outcome for the American people.”
Senate Republicans and House leaders from both parties have until August 16 to make their picks. When Congress returns from its summer recess, lawmakers will have until November 23 to submit their recommendations for an up-or-down vote in both chambers. Under the deal reached last week, that vote must occur by December 23.
Failure by Congress to vote on a plan will trigger an automatic series of spending cuts to both domestic and defense budgets that could total as much as $1.5 trillion over the next ten years.
Geoff Holtzman
TRNS Correspondent Victoria Jones offers her analysis of the picks:
* Baucus will infuriate progressives as a moderate to right Democrat who is seen as likely to compromise and even side with Republicans; this confirms liberal fears that Reid caved, risked a 7-5 result and disaster for Democrats on entitlement reform and weakness on revenue - hope now rests for them in Pelosi
* Republicans won’t appoint anyone who will raise taxes according to GOP leadership
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