Senator Tom Coburn Releases $9T Deficit Reduction Plan

Sen. Tom Coburn released a $9 trillion “Back in Black” deficit reduction plan Monday that would gore government programs and tax breaks large and small.

The plan would cut $1 trillion in tax breaks that the Oklahoma Republican considers “socialist” spending, although it would be considered a tax increase by anti-tax advocate Grover Norquist. Norquist’s group, Americans for Tax Reform, attacked the plan Monday. “It’s now clear Senator Coburn’s plan all along was a trillion dollar tax hike,” the group said in a statement.

Coburn said it doesn’t make sense to say it’s OK to cut spending when it’s part of an appropriations bill, but not when it is tucked into the tax code. “That’s just ludicrous. It’s idiocy,” he said.

He also said that solving the nation’s spiraling debt problem must take priority.

“Doing nothing is a tax increase,” he said, adding that if he were negotiating with President Barack Obama, he would seek a compromise of new revenue and spending cuts.

via Coburn Releases $9T Deficit Reduction Plan : Roll Call News.

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