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Thursday, January 24, 2013

The Hill: Congress: Alexander Bolton: Senator Schumer: Budget Strategy Best to Meet $600B Tax Goal

Schumer: Budget strategy best to meet $600 billion tax goal - The Hill

If Senate Democrats are serious which I believe they are in coming up with an additional 600B$ in new revenue. To go along with the 600B$ from the fiscal cliff agreement, then its going to have to be through tax reform and not raising additional rates. But even that will be a tough sell for House Republicans but they should do it anyway and try to pass it out of the Senate with their new 55-45 majority. Along with 1T$ in new savings from the Federal budget by reforming Medicare as it relates to. Compensating doctors and hospitals based on the health of their patients not based on how much healthcare they deliver. Same thing with Medicaid and using the drawdowns from Afghanistan and Iraq to go for deficit reduction. Not back into the defense budget and you could get an additional 1T$ in savings to go along with. Tax reform and then make that their first offer to the House when Congress comes together in conference. Between both the House and Senate to work out the final budget and deficit reduction deal.