Tags: chamber | commerce | tax | reform

Chamber of Commerce Calls for Entitlement, Tax Reform

Wednesday, 17 Aug 2011 12:20 PM

Many observers are skeptical that the bipartisan super committee formed to come up with $1.5 trillion of budget deficit reduction for the next decade will be able to accomplish much. But the U.S. Chamber of Commerce says the group should aim high, finding a way to trim entitlements and restructure the tax code, The Hill reports.
 
The Chamber hopes for a lot more than the $1.5 trillion goal.
 
“While this magnitude of deficit reduction is a step in the right direction, it would fall far short of fixing the deficit and debt problem America currently faces,” the group wrote in a letter to the committee. “It would not stabilize the debt to GDP ratio. . . . It would fall far short of achieving a balanced budget. It alone would likely not prevent future downgrades to the debt rating of the United States.”
 
 

© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

WashPost: Falling Gas Prices Boost Obama's Approval Rating

Wednesday, 28 Jan 2015 09:24 AM

While positive economic indicators may be playing a role in President Barack Obama's recent boost in job approval rating . . .

Teachers' Pension Plans Sinking Fast, Report Says

Wednesday, 28 Jan 2015 09:15 AM

Teacher pension plans across the country are sinking in debt and will be unsustainable unless drastic changes are made,  . . .

Prison System Weighs Putting Focus on Rehab

Wednesday, 28 Jan 2015 08:57 AM

If the initial hearing Tuesday of the Charles Colson Task Force on Federal Corrections was any firm indication, then the . . .

Most Commented

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