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Committees push deficit plan to trim federal deficit
Congressional panels quietly draft a package to shave about 100 billion from the deficit over three years. The Senate Finance Committee has reached 70 percent of that target while the House Ways and Means moves to finish its version. Both bills include tax hikes and spending cuts approved last year, with high earners and businesses bearing much of the load. Medicare and pension recipients would see higher costs or lower COLAs, and a key proposal would freeze the cigarette tax at 16 cents a pack.
MENTIONED IN THIS ARTICLE
Congressional
Senate Finance Committee
House Ways and Means Committee
Finance Coenmitice Peatle
Bas
Reagan
Pete V. Domenici
Rn.m
Senate Budget Committee