Congressman Peter Welch says he wants to be part of a
bipartisan effort to pass legislation that will significantly reduce the
federal budget deficit. Welch says the plan will require both new tax revenues
and cuts in domestic spending programs.
All three members of Vermont’s Congressional delegation say President Obama’s plan
to reduce the federal deficit by $3 trillion over the next 10 years is a
balanced approach to deal with a serious fiscal issue. But
they question if it
has a chance of being passed by Congress.
Patrick Leahy is calling on members of the Congressional debt reduction super
committee to include a war tax to pay for U.S. military actions in Iraq and Afghanistan in their final package. Leahy says the wars were never paid for and have cost the American people several
trillions in additional debt.
Governor Howard Dean is endorsing President Obama’s efforts to reach a
compromise budget deficit plan. He
says Republican leaders need to support higher taxes on the wealthy and Democrats
need to accept some cuts in entitlement programs.
A new report says Vermont could eliminate a good part of its budget deficit by imposing a temporary income tax surcharge on
very wealthy people. Some
lawmakers think the plan makes a lot of sense but Governor Peter Shumlin is opposed to the idea.