Senate Budget Committee Chairman Kent Conrad says any budget solution must address “both sides of the equation” — taxes and spending, Politico
reports. Republicans have stuck to their tried-
and-true belief that the country isn’t taxing too little, but instead spending too much.
“What I have to see is a comprehensive plan — I want to see the revenue system reformed, fundamental tax reform — I want to see the spending side of the equation dealt with,” Conrad, D-N.D., told “Fox News Sunday,” when asked what was required for his vote to raise the debt limit.
“What we have right now, we have the revenue of the United States the lowest it's been in 60 years as a share of our economy,” Conrad said. “Spending is the highest it's been in 60 years as a share of our economy. We've got problems on both sides of the equation and the have to be addressed.”
One proposal to curb the budget is putting a cap on domestic spending, like a plan proposed by Sens. Bob Corker, R-Tenn., and Claire McCaskill, D-Mo., but Conrad said he wasn’t sure whether such a plan would work.
The clock is running out on Congress to get a deal done, with the nation set to hit its debt limit sometime this month.
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