Senate Democrats push $110B plan to avoid "sequester" cuts

02/15/2013 | Hill, The · Bloomberg

Democratic senators are pushing a new $110 billion plan to avoid the automatic spending cuts due to take effect March 1 -- but the plan includes $55 billion in new tax revenues that Republicans have already sworn to oppose. With GOP leaders pledging not to get drawn into last-ditch efforts to broker a compromise, lawmakers on both sides said that there was virtually no chance to avoid the spending cuts. "Read my lips: I am not interested in an eleventh-hour negotiation," Senate Minority Leader Mitch McConnell told reporters.

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Hill, The · Bloomberg

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