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US deficit plan gets cross-party backing | US deficit plan gets cross-party backing |
(40 minutes later) | |
A Congress committee's deficit reduction plan has been backed by both Republican and Democrat members, but not enough to put it to a vote. | A Congress committee's deficit reduction plan has been backed by both Republican and Democrat members, but not enough to put it to a vote. |
11 of the its 18 members - more than expected - have come out in favour of the plan to save $4tn (£2.5tn) from the federal budget over 10 years. | 11 of the its 18 members - more than expected - have come out in favour of the plan to save $4tn (£2.5tn) from the federal budget over 10 years. |
Backers included Democrat Dick Durbin, a liberal and a close ally of President Barack Obama. | Backers included Democrat Dick Durbin, a liberal and a close ally of President Barack Obama. |
A majority of 14 would have been needed to force a Congressional vote. | A majority of 14 would have been needed to force a Congressional vote. |
Agenda setting | Agenda setting |
Despite failing to secure enough support to go to a plenary vote, analysts say that the cross-party support for the plan means it is likely to influence President Obama's next budget, due in February. | Despite failing to secure enough support to go to a plenary vote, analysts say that the cross-party support for the plan means it is likely to influence President Obama's next budget, due in February. |
Among the plan's proposals are: | Among the plan's proposals are: |
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It comes days after President Obama proposed a two-year pay freeze for federal government workers as part of efforts to reduce the US budget deficit. | |
Dissenters | Dissenters |
Seven committee members are thought to oppose the plan, including two republicans who criticised the fact that $1tn - a quarter of the plan's savings - would come from an overall increase in taxes. | Seven committee members are thought to oppose the plan, including two republicans who criticised the fact that $1tn - a quarter of the plan's savings - would come from an overall increase in taxes. |
Democrat opponents are concerned at the social security and healthcare cuts. | Democrat opponents are concerned at the social security and healthcare cuts. |
However, Congressman Durbin gave his backing, saying: "If we don't act now - if we pass this issue on to another Congress, another generation - the tough choices we face now only get tougher." | However, Congressman Durbin gave his backing, saying: "If we don't act now - if we pass this issue on to another Congress, another generation - the tough choices we face now only get tougher." |
The $4.1tn expected savings over 10 years compare with a current US deficit of $1.3tn. | The $4.1tn expected savings over 10 years compare with a current US deficit of $1.3tn. |