InstaPoll: Which plan do you support to address our nation's debt crisis?Posted by Randy | July 28, 2011
This evening, the House of Representatives is scheduled to vote on a plan offered by Speaker Boehner that addresses the nation's debt crisis by creating a two-step process for the President to increase the debt limit by as much as $2.5 trillion, following the enactment of $2.7 trillion in spending cuts and other deficit reduction measures. The bill also creates a bipartisan Joint Select Committee on Deficit Reduction composed of 12 lawmakers to recommend $1.8 trillion in deficit reduction in order to achieve the total $2.7 trillion in spending cuts. Finally, the measure requires the House and Senate to vote on a balanced budget amendment to the Constitution before the end of the calendar year. Speaker Boehner has announced that the House will vote tomorrow on two separate balanced budget amendments; one version of the amendment will require a two-thirds supermajority to raise taxes and the other will not. Leader Reid also announced that the Senate will vote on Speaker Boehner's proposal tonight if it passes the House. The Wall Street Journal recently published a side-by-side overview of the competing debt limit proposals currently being considered in the House and Senate. The chart is available below, or by clicking here.
Question of the Week: Which plan do you support to address our nation's debt crisis?
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