September 16, 2014

Obama Budget to Include Chained CPI, Retirement Account Caps to Reduce Deficit

April 8, 2013
Bloomberg BNA

Excerpt

Such a change would amount to a technical correction, said Robert Bixby, executive director of the Concord Coalition, adding that its inclusion in Obama's budget legitimizes it like never before. He said Obama's specific proposals to change taxes and entitlements demonstrate a new level of seriousness by no longer restricting the ideas to closed-door debates with Boehner.

While not expecting a so-called grand bargain on the budget, Bixby said he is cautiously optimistic that the White House and Congress can strike some sort of fiscal deal on a smaller scale. And in that context, he said revenue raising through tax expenditures in the forthcoming Obama budget could prove important to the extent such ideas overlap with the budget plan produced by Senate Budget Committee Chairman Patty Murray (D-Wash.), which passed 50-49 last month with an instruction to the Senate Finance Committee to raise $975 billion in new revenue  . . . . 


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