Debt showdown and the 'Gang of Six'
»14 items «
A bipartisan group of senators unveiled an ambitious deficit-reduction plan on July 19 that calls for limiting Social Security increases and reducing mortgage and other cherished tax deductions, a last-minute development that quickly won praise from President Obama and could provide a path to break a months-long budget impasse. With House Democrats and Republicans hardening their positions over whether and how to raise the nation's debt limit before an Aug. 2 deadline, the group of senators dubbed the "Gang of Six" outlined the framework of a deal they said would cut the deficit's growth by $3.7 trillion over 10 years. About $1 trillion of that would be raised by overhauling the tax code to lower individual and corporate rates while slicing myriad loopholes, shelters, and deductions. The proposal attracted support from rank-and-file senators in both parties, if not yet their leaders. Here are some key players and comments, reactions:
»14 items «
What You May Have Missed
Most Popular Across Site
- Dick Harmon: How a simple decision in the...
- Hamson and Gray step up big to get BYU past...
- How would LDS be affected by renewed US-Cuba...
- Dispatchers answer man's repeated 911 calls...
- Canada man finds an Elizabeth Gallagher for...
- LDS Church to create new missions in Utah and...
- BYU defensive back transferring to Utah State
- Bittersweet Christmas: A woman ponders the...
- Obama: US re-establishing diplomatic... 49
- End gun violence, say faith leaders on... 32
- Vermont governor abandons single-payer... 31
- Police: 3 dead, including gunman, in... 18
- Sony cancels 'The Interview' Dec. 25... 15
- Taliban assault on Pakistan school... 12
- Utah football's Hackett, Orchard named... 11
- NYC premiere of Rogen film 'The... 8