Here we go folks…..
The Democrats and the President are playing hardball hoping to get the Republican’s to agree to tax increases as the time closes on ACTUAL sequester cuts, layoffs and shut downs…
….from the Hill….
Congressional leaders say there is no Plan B and that the sequester, as the cuts are known in Washington, will be phased in over the next seven months. Hopes that a government-funding measure could become a vehicle to avert some of the cuts have also faded.
If Congress fails to freeze the cuts, a total of $110 billion in spending reductions to domestic discretionary and defense programs will have been implemented in the fiscal year that began last October and ends on Sept. 30.
The Congressional Budget Office estimates the cuts could cost 750,000 jobs this year.
Following the votes, President Obama said Senate Republicans voted “to let the entire burden of deficit reduction fall squarely on the middle class.
“Today, Republicans in the Senate faced a choice about how to grow our economy and reduce our deficit. And instead of closing a single tax loophole that benefits the well-off and well-connected, they chose to cut vital services for children, seniors, our men and women in uniform and their families,” Obama said in a statement.
Obama will meet with congressional leaders from both parties and chambers on Friday at the White House to discuss the next steps for addressing the sequester.
Senate GOP Leader Mitch McConnell (Ky.) said he will tell Obama in blunt terms that Republicans will not accept additional tax increases after voting for a $620 billion tax hike on New Year’s Day.
“Look: the American people will simply not accept replacing spending cuts agreed to by both parties with tax hikes. And I plan to make all of this clear to the president when I meet with him tomorrow,” McConnell said….Share on Facebook