Budget Compromise Hits New Snag

debtPresident Obama attempted to compromise on his budget by offering chained CPI. Chained CPI would recalculate the way Social Security is done and, in most cases, lower Social Security payments. Chained CPI has been championed by Republicans in their budget negotiations, but that might end soon. Grover Norquist, who is the head of Americans for Tax Reform which runs the Taxpayer Protection Pledge, said that chained CPI would violate the pledge. The nonpartisan Tax Policy Center has said that most Americans would pay more taxes if chained CPI took effect. Some might argue that Norquist is not supporting the idea because President Obama is now proposing it. However, the group has been opposing it since 2011. If Republicans join with Democrats in opposing the idea, the idea could be DOA in any chamber. Most Democrats oppose the move due to the deduction in Social Security payments. Many Democrats see Norquist as a villain, but they might be cheering now as he can prevent Republicans from supporting it.

About Tyler

Tyler is the chief media reporter for TKNN, with the news organization since its founding in November of 2010. He has previously served as chief political reporter and chief political anchor for TKNN.

Leave a comment

Your email address will not be published. Required fields are marked *