Summary
The Senate today is expected to try again to assemble a budget resolution - the blue print for its 2005 budget - that a majority can agree on. The sticking point is fiscal responsibility: Some Republicans and all Democrats want additional tax cuts along with new entitlement spending paid for unless a three-fifths majority votes otherwise. GOP leadership wants those tax cuts to slide through by simple majority.
This pay-as-you-go provision presents a dilemma for Senate leadership. Republicans, the traditional anti-deficit party, already has established record-setting deficits in the last couple of years. Further tax cuts would add billions to the problem. Senate GOP leaders have made much of the fact that Senate Democratic leadership was so poor a couple of years ago that it was unable to find agreement on a resolution. They were right, but now face the same problem. However, they would have a hard time paying for all the tax cuts they want.See the full content of this document
Extract
Sticking with Pay-Go
There are good reasons for passing a resolution - it would include a means for raising the debt ceiling without allowing ...
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