The Boston Globe had the story last week, but it has yet to make more national headlines. The story? Republicans on the Congressional Supercommittee have submitted a plan to raise taxes. The Supercommittee was conceived during the debt ceiling debate earlier this year and charged to produce a plan that would deal with the massive deficit in Washington D.C. The deal now being considered includes limiting deductions for interest on home mortgages and charitable giving. The deadline for a Supercommittee agreement is November 23rd, the day before Thanksgiving.
This is all one has to know when considering the Republican proposal:
Senate Majority Whip Richard Durbin (D-IL) was pleased that the Republicans were willing to discuss tax revenues. He called the change a "breakthrough" in the ongoing discussions.
When Dick Durbin is pleased about something, the country is in trouble.
J. James Estrada's LinkedIn profile can be viewed here: www.linkedin.com/pub/james-estrada/30/9a2/b71