Calif. Rep. Wants Shared Sacrifice In Debt Talks
WASHINGTON (AP) — California Rep. Xavier Becerra says the final recommendation from a panel examining ways to reduce the nation’s debt will have to ask everyone to sacrifice before he can support it.
That likely means tax increases for those who benefited the most from tax cuts enacted under President George W. Bush.
The Los Angeles Democrat says the tax cuts played a major role in turning annual surpluses into deficits.
Becerra is the lone California lawmaker on the 12-member budget supercommittee. It has been tasked with finding at least $1.2 trillion in savings over the coming decade.
Constituents are encouraging him not to target entitlement programs such as Social Security or Medicare. If the panel fails to reach an agreement, automatic spending cuts to defense and domestic programs would take place.
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