While most of Washington is focused on confrontations over gun control and immigration law, the White House is quietly exploring the possibility of striking a deal with lawmakers to rein in the budget deficit.
President Barack Obama’s proposal to change the formula for calculating cost-of-living increases for Social Security is a “positive step forward,” House Ways and Means Committee Chairman Dave Camp said.
Representative Chris Van Hollen, a Maryland Democrat, said during an interview with Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend, that House Majority Leader Eric Cantor’s recent bid to remake the Republican Party is little more than public relations while expressing a willingness to consider one Republican proposal to restructure Medicare.
Representative Chris Van Hollen of Maryland, ranking Democrat on the House Budget Committee, said in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend, that Congress should eliminate a tax break for private-equity and hedge- fund executives to pay for extending a payroll tax cut for workers.
As $85 billion in spending cuts hit the federal budget, President Barack Obama is taking the rare step of lavishing personal attention on Republican lawmakers he considers open to making a deal to reduce the deficit.
Chris Van Hollen, the top U.S. House Democrat on budget issues, said in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend, that any deficit-cutting deal must be “balanced” to include higher tax revenue as well as spending reductions.
President Barack Obama invited House Budget Committee Chairman Paul Ryan and Chris Van Hollen, the panel’s top Democrat, to lunch today as he seeks to restart talks on a long-term deal to reduce the federal deficit.