Page 13 - Spending Reduction News Today : Breaking News, Live Updates & Top Stories | Vimarsana

And asking wealthiest americans to contribute. >> that was earlier today. earlier also we heard from speaker bane been a on potential tax increases who said this -- the president has gotten his revenue already. gotten it, period. >> he's correct. operation of law, bush tax cut expire midnight on december 31, president got some of the taxes he was looking for and got them on the high income people. not by anybody who vote but the law expired. the tax issue is over. we made a commitment, bret, back in august of 2011 that we would achieve $2.1 trillion in spending reduction. no taxes. spending re...

You. >> good to see you, chris. >> tell me what you think is going to happen inside this first meeting. >> well, i think obviously we're going to get fully brief odd what's in the senate bill? most members haven't had a chance to read it. we're going to have some interesting discussions. i think there's obviously a concern on a number of areas. >> tell me where you think those discussions will focus, where the concerns will focus? >> the big single concern will be there is not enough in terms of spending reduction. the obvious answer to that is that's coming because sequester is pro months awa...

Divide between both parties, republicans say the problem is about spending and democrats say it is all about lack of revenue, how -- how does -- is that bridged in this year? can it be bridged? >> yes, it can. both president obama and speaker boehner have already begun to do a principle compromise. speaker boehner said i'm ready to raise taxes on those over a million dollars. president obama said i'm ready to have a new type of chain to consumer price index which -- impacts entitlement reform. the bipartisan national debt commission, simpson-bowles commission, said for every dollar of spending...

You. >> kansas congressman tim huelskamp one of the four republicans stripped of his committee chair explained why he bucked to the speaker today on "morning joe." >> i disagreed with john boehner, actually caving on tax. he went over to the white house over the weekend and said we'll raise the debt ceiling for a year and take a lever out of the hands of republicans but he did that without the support of the conference as we found out. >> sherman was there for what he calls behind-the-scenes gop meltdown. jake, i'm sure this didn't go the way boehner wanted it to, but it seems there might be a...

Understand that the nation faces largest tax increase in its history come january 1, 2013. this bill is a bill that provide permanent tax relief for taxpayers earning a million dollars and under. we protect 99.81% of american taxpayers from a tax increase in these very difficult economic times. we hope that the senate will take this bill up along with the spending reduction act and get the job done in lieu of, or absent any kind of agreement coming from the white house. we are again taking concrete actions to avoid the fiscal cliff. >> mr. leader, i know that this bill was presented last night...