Sen. Conrad Calls for Equal Spending Cuts, Tax Hikes

Wednesday, 06 Jul 2011 12:17 PM

By Dan Weil

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At least one Democrat is literally trying to split the difference between spending cuts and tax hikes to get the budget deficit under control. Senate Budget Chairman Kent Conrad of North Dakota planned to present a plan to his party leaders today that would deploy tax increases and spending reductions in equal measures to shrink the deficit, The Hill reports.

Conrad acknowledges that his proposal may not go over so well, even though some of his Democratic colleagues have expressed support for the idea.

“I’ve been around long enough to know it’s when you reduce it to writing that sometimes differences emerge,” he said. “I feel very good about it. It’s, to me, a very responsible, rational package.” Conrad said last week that the plan would narrow the deficit by more than $4 trillion over 10 years.

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