(The Hill/OTM) — Democrats on the congressional supercommittee this week presented Republicans with a plan to cut the deficit that included billions of dollars in stimulus spending, aides told The Hill.
In a private meeting of the deficit panel Tuesday, Sen. Max Baucus (D-Mont.), chairman of the Senate Finance Committee, presented a proposal backed by a majority of Democrats on the panel that includes trillions of dollars in tax increases. The revenue would partially cover stimulus spending for the economy, aides said.
More than 50 percent of the deficit reduction in the plan would come from tax increases, one source said.
The plan from Democrats approaches the $3 trillion in deficit reduction that was included in the “grand bargain” that lawmakers debated over the summer.