Skip to content Skip to footer

Deficit Reduction Plan Fails to Get the Votes It Needed

Washington – The bipartisan federal debt commission Friday got a majority of its 18 members to endorse its sweeping blueprint for slashing nearly $4 trillion from deficits. But the 11 supporters of the National Commission on Fiscal Responsibility and Reform “Moment of Truth” plan were short of the 14 needed to send the package to Congress for votes. Commission members nevertheless insisted their work was an important first step in the process of paring the record federal debt, and most of the dissenters agreed.

Washington – The bipartisan federal debt commission Friday got a majority of its 18 members to endorse its sweeping blueprint for slashing nearly $4 trillion from deficits.

But the 11 supporters of the National Commission on Fiscal Responsibility and Reform “Moment of Truth” plan were short of the 14 needed to send the package to Congress for votes.

Commission members nevertheless insisted their work was an important first step in the process of paring the record federal debt, and most of the dissenters agreed.

They noted how the plan got support across the political spectrum. Senate Majority Whip Richard Durbin, D-Ill., backed the report, explaining, “I want progressive voices at the table to help protect the most vulnerable….today with my vote I’m claiming a seat at that table.”

Also endorsing the recommendations were Senate Budget Committee Chairman Kent Conrad, D-N.D., House Budget Committee Chairman John Spratt, D-S.C., and Republican Sens. Tom Coburn of Oklahoma, Mike Crapo of Idaho and Judd Gregg of New Hampshire.

The dissenters were nonetheless optimistic the report would spark a movement to engage in serious fiscal policy negotiations.

“This is a plan worth of consideration,” said Rep. Xavier Beccera, D-Calif., who was opposed.

But the failure to gain enough support also highlighted the kinds of problems Congress and the White House are likely to face in the months ahead.

Democrats like Rep. Jan Schakowsky, D-Ill., was opposed because she was concerned about spending cuts that would mean benefits reductions for Social Security recipients, Medicare patients and others.

“Those who have not joined the prosperity party the last couple years are being asked to pick up too much of the tab,” she said.

Republicans like Rep. Dave Camp, R-Mich., slated to become House Ways and Means Committee Chairman next month, was also a no. He saw the report as a launching pad for tax increases, and lamented how it did little to reduce health care costs.

“Health care spending is the number one driver of our debt and if we are serious about reigning in entitlement spending, the health care law must be part of that effort,” he said.

The fiscal 2010 deficit was $1.29 trillion. The commission recommends capping spending in virtually all government programs through 2020 except for Social Security, Medicare, Medicaid and some national security programs..

It also revamps the tax system so that instead of the current five income tax rates, there would be three: 8, 14 and 23 percent. But it would end about $1.1 trillion in popular tax breaks, such as certain mortgage interest deductions.

Help us Prepare for Trump’s Day One

Trump is busy getting ready for Day One of his presidency – but so is Truthout.

Trump has made it no secret that he is planning a demolition-style attack on both specific communities and democracy as a whole, beginning on his first day in office. With over 25 executive orders and directives queued up for January 20, he’s promised to “launch the largest deportation program in American history,” roll back anti-discrimination protections for transgender students, and implement a “drill, drill, drill” approach to ramp up oil and gas extraction.

Organizations like Truthout are also being threatened by legislation like HR 9495, the “nonprofit killer bill” that would allow the Treasury Secretary to declare any nonprofit a “terrorist-supporting organization” and strip its tax-exempt status without due process. Progressive media like Truthout that has courageously focused on reporting on Israel’s genocide in Gaza are in the bill’s crosshairs.

As journalists, we have a responsibility to look at hard realities and communicate them to you. We hope that you, like us, can use this information to prepare for what’s to come.

And if you feel uncertain about what to do in the face of a second Trump administration, we invite you to be an indispensable part of Truthout’s preparations.

In addition to covering the widespread onslaught of draconian policy, we’re shoring up our resources for what might come next for progressive media: bad-faith lawsuits from far-right ghouls, legislation that seeks to strip us of our ability to receive tax-deductible donations, and further throttling of our reach on social media platforms owned by Trump’s sycophants.

We’re preparing right now for Trump’s Day One: building a brave coalition of movement media; reaching out to the activists, academics, and thinkers we trust to shine a light on the inner workings of authoritarianism; and planning to use journalism as a tool to equip movements to protect the people, lands, and principles most vulnerable to Trump’s destruction.

We urgently need your help to prepare. As you know, our December fundraiser is our most important of the year and will determine the scale of work we’ll be able to do in 2025. We’ve set two goals: to raise $86,000 in one-time donations and to add 1260 new monthly donors by midnight on December 31.

Today, we’re asking all of our readers to start a monthly donation or make a one-time donation – as a commitment to stand with us on day one of Trump’s presidency, and every day after that, as we produce journalism that combats authoritarianism, censorship, injustice, and misinformation. You’re an essential part of our future – please join the movement by making a tax-deductible donation today.

If you have the means to make a substantial gift, please dig deep during this critical time!

With gratitude and resolve,

Maya, Negin, Saima, and Ziggy