Capitol Hill Democrats, Republicans far apart on deficit deal as deadline looms
WASHINGTON (AP) -- The top Republican on a special deficit-cutting panel says GOP negotiators have "gone as far as we feel we can go" on tax hikes, a public signal that a debt bargain could be out of reach despite weeks of negotiations.
Texas Rep. Jeb Hensarling told CNBC Tuesday that the bipartisan debt supercommittee is "somewhat stymied for the moment" because panel Democrats are insisting on tax increases of up to $1 trillion in exchange for cost curbs on rapidly spiraling benefit programs such as Medicare and Social Security.
The top Democrat on the deficit supercommittee, Sen. Patty Murray of Washington, countered that it's up to Republicans to send a ...
