Yesterday evening we reported the details of House Republicans' "fiscal cliff" compromise offer to the White House, which offered real ideological concessions, to the tune of $800 Billion in new revenues. The plan -- originally conceived last year by the Democratic co-chairman of the debt commission, Erskine Bowles -- also calls for the reduction of both discretionary and mandatory spending, making needed (albeit small-ball) reforms to the largest drivers of our debt. Unlike the president's risible, widely-panned proposal last week, Republicans' new negotiating posture offers genuine compromise: (a) It has bipartisan origins, (b) it achieves "balance," (c) it...
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Boehner needs to bring the Senate bill up for a vote this week. After it passes, attention can be turned toward the remainder of the fiscal cliff. We also want the tax cuts in the Senate bill, so what's the problem. Let's get those tax cuts before they're taken off the table.
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