As the supercommittee charged with reducing the deficit works on a plan
that both cuts at least $1.2 trillion over ten years and can pass
Congress, recent shifts by Republican leadership may signal the return
of the “grand bargain” that President Obama and House Speaker John
Boehner (R-OH) had originally tried to negotiate.
Earlier reports indicate that Boehner has softened his line on tax increases in the final deal, while The Hill
reports that Senate Minority Leader Mitch McConnell (R-KY) “has made an
about-face in recent days and now favors a huge deficit-reduction
deal.”
“At the beginning of this week, Senate GOP and
Democratic sources said McConnell appeared to favor a $1.2 trillion
package out of the deficit-reduction supercommittee… A $4 trillion
deal has gained more popularity in the Senate GOP conference this week
as lawmakers have become convinced that Obama wants the
deficit-reduction supercommittee to fail.”
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