Statement from Foundation Chairman Pete Peterson on New Simpson-Bowles Deficit-Reduction Framework

FOR RELEASE

Feb 19, 2013

CONTACT


Peter G. Peterson Foundation press@pgpf.org

“Alan Simpson and Erskine Bowles have again shown tremendous leadership in focusing the public’s attention on our nation’s serious long-term fiscal challenges and keeping all options on the table as they seek bipartisan solutions. Simpson and Bowles make clear that improving economic growth and addressing our long-term fiscal challenges is not an either-or proposition. We can and must do both. Simpson and Bowles are offering Washington a way beyond its current impasse with a new, comprehensive framework to strengthen the economy, reform the tax code, and fix the major drivers of long-term debt. Their ideas deserve serious consideration in Congress and at the White House.”

Further Reading

House Ways And Means Committee Meets For Budget Reconciliation Mark Up

What Is Budget Reconciliation?

The reconciliation process avoids the potential need to gather 60 votes to end debate and, therefore, allows the Senate to adopt legislation with a simple majority.