Thursday, October 27, 2011

GOP offering to supercommittee calls for deep cuts, no new taxes - latimes.com

GOP offering to supercommittee calls for deep cuts, no new taxes - latimes.com

Republicans on the deficit-reduction supercommittee have proposed steep spending cuts and no new taxes as a counter-offer to the nearly $3 trillion "grand bargain" Democrats put on the table as the committee shows little sign of compromise.

A GOP aide said the proposal offers new revenues without imposing tax hikes, but the offer was roundly dismissed by Democrats. One Democratic aide called it "a joke."

"That doesn't sound like anything that would even be in the league," said Rep. Nancy Pelosi (D-Calif.), the minority leader.

Republicans similarly rejected the Democratic proposal for a mix of tax hikes and spending cuts as not serious.

The public airing of the closed-door talks can be taken as either the first signs of serious negotiations or a rerun of the partisan stalemate that blocked deficit reduction efforts this year.

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