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Violate his anti-tax pledge. republicans have already passed a second part of the plan. it replaces the automatic defense spending cuts, which kick in at the end of the year. instead of defense cuts, the republican plan cuts funding for what? food stamps? can't get enough of those poor folks serving it up, you know what i mean? and of course they've got to go after health care. it eliminates the child tax credit and ends unemployment benefits for millions of americans. eric cantor is confident the entire plan b will pass. >> do you think you have the votes to pass plan b, among republicans? >>...

Latest updates on this topic from reliable sources.

Latest updates on this topic from reliable sources.

Effect and the income coming off of that will lower the rates further so you will ultimately see net-net tax cuts to individuals in the country. >>stuart: and we turn to the other side, the spending. do you have specifics on that. >>guest: there is $500 billion locked in initially. and there is another $2.2 trillion that will come through a process of forcing the committees to come to a certain fixed result, $500 billion of that through health care reductions and mandatory programs and i can't give you all the details right now but significant spending reduction that starts us on the way of ge...

Consideration. i mean i like the general outline. i need more details but again, that's not a debt ceiling plan. that is frankly dealing with fiscal reform and the long-term debt and defenicits of this country. i think at the end of the day though you'll probably see something like an intermediate deal. what i mean is perhaps something closer to that biden framework. i'm not sure just how much in debt ceiling increase and how much in spending reduction but maybe somewhere on the order of $1 trillion. and again, the question is how much time does that get you on the debt ceiling. it wouldn't ta...