Senator Mark Warner said his bipartisan group of six senators working to strike a deal to cut the national debt is considering a plan to slash $3 in federal spending for every $1 of tax revenue it raises.
Two of the Senate’s top advocates of a long-term deficit-cutting plan said lawmakers must continue to press for legislation that can pass this year, even as they disagreed on whether an election-year deal is possible.
Democratic Senator Mark Warner, one of the “gang of six” that sought a bipartisan deal on U.S. debt reduction, urged members of both parties on a deficit supercommittee to “go big, go bold” with their savings.
Democratic Senator Mark Warner of Virginia said in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend, that accepting House Republicans’ plans for two-week stopgap budget extensions could harm financial markets.
The recession and its aftermath have pinched the budgets of nonprofits even as demand for their services has grown, and businesses can help fill the gap and shore up public trust in the industry by donating workers’ expertise, Virginia Senator Mark Warner said.