Tags: BNALL | BNSTAFF | BNTEAMS | BUD | CNG | DCAA | EXE

McConnell Seeks ‘Significant’ Spending Changes in Debt Plan

Thursday, 12 May 2011 02:32 PM

Senate Minority Leader Mitch McConnell said he is seeking “significant” changes in short, medium and long-term spending in exchange for his agreement to raise the U.S. debt limit.

Speaking to reporters after Senate Republicans met with President Barack Obama, McConnell said such goals must include a two-year cap on discretionary spending that reduces outlays to help bring down the deficit.

“To get my vote we’re going to have to establish a cap in year one and year two,” he said.

McConnell of Kentucky said the lawmakers had a “candid exchange” with the president on deficit and spending issues.

The minority leader said he believes the group of lawmakers meeting twice a week with Vice President Joe Biden is the most likely to come up with a deficit-cutting agreement that all sides could embrace. A bipartisan group of six senators also has been meeting on the deficit, though McConnell said that group didn’t include anyone from the White House.

McConnell also said a comprehensive tax overhaul can’t be accomplished before August. In addition, a debt plan is unlikely to address Social Security because Democrats oppose it, he said.

 

© Copyright 2015 Bloomberg News. All rights reserved.

1Like our page
2Share
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved