With just two weeks until the sequestration cuts are set to begin, Senate Democrats have finally released their plan to address them. The Democrats’ bill would delay the sequesters for roughly a year by replacing them with $110 billion in alternative deficit reduction. The proposal is known as The American Family Economic Protection Act.
Half of the money would come from new revenue. Most of that would be from adopting the “Buffet Rule” and closing some corporate tax loopholes.
The other half would come from spending cuts split between defense cuts and reductions in agricultural subsidies.
As deficit reductions plans go it sounds decent, which is exactly the point. This bill clearly wasn’t designed to try to get Republican support and there is zero chance it will ever be approved.
It was created solely so Democrats could say they officially “tried” to stop the sequestration, so if the cuts happen they can say it is the Republicans’ fault. At the same time Republicans are trying to put the blame on President Obama by claiming the sequestration cuts were originally his idea.
The fact that with so little time left that both parties are still primarily focused on blame avoidance is a powerful indication that the cuts are going to happen.
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