The House will almost certainly approve Budget Committee Chairman Paul Ryan’s 2012 budget resolution this week. And that budget may doom negotiations among the “Gang of Six” senators for a bipartisan budget compromise, The Hill reports.
That’s because the Gang of Six, led by Sens. Mark Warner, D-Va., and Saxby Chambliss, R-Ga., is contemplating tax increases.
The Ryan budget proposal, of course, has no tax hikes. And it’s questionable whether Republicans in the House are willing to accept any tax increases to reach a budget agreement.
President Barack Obama’s debt commission, led by former White House Chief of Staff Erskine Bowles, a Democrat, and former Sen. Alan Simpson, R-Wyo., called for higher taxes to cut the deficit.
However, many Republicans on the commission, including Ryan, voted against the idea.
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