Here we go again. Government funding is set to run out again on Jan. 15, and in seven weeks a bipartisan group in Congress has been told to present a new path forward. Their first — and so far only — scheduled meeting is this Wednesday. So what will the conference do? The 28 members are required to send a report of recommendations to the full chambers by Dec. 13. The conference will likely focus on crafting a small deal to avert the next fiscal crisis early next year. Democrats will push for increased revenue from closing tax loopholes. Democratic congressional staffers point to a few notorious tax exemptions for corporate jets and the oil and gas industry, and the Gingrich-Edwards payroll-tax loophole. But many Republicans will reject any tax-revenue increases. “Revenues are a nonstarter in the House,” says a House Republican leadership aide. “They got their revenues on Jan. 1 and should not expect any more.”
Posted on: Mon, 28 Oct 2013 14:40:44 +0000
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