[From nobody Tue Aug 2 20:03:53 2011 Received: from p-ess-ironp4.senate.gov ([156.33.195.70]) by mail.turbonet.com (Cactus Mail Server v9.4.0) with ESMTP id LAS39412 for <lfalen@turbonet.com>; Tue, 02 Aug 2011 11:16:12 -0700 DKIM-Signature: v=1; a=rsa-sha256; c=simple/simple; d=senate.gov; i=newsclips@crapo.senate.gov; q=dns/txt; s=senate-ip; t=1312308973; x=1401560173; h=from:date:subject:message-id:mime-version; bh=YiF0MBYo9pUlS0n2aySxUKwUseL0yReF8DRa7JYKO/I=; b=nmalvE9250o8P6CdI7xaAWYsQXGy5EWYUApL4OkiblxQ4ycvOYky8pTk AAQE9+QAUTlzEo7X161InVuINo8uXw0xSNNWF7NkYKn9hTlBC4xLAjq6m E994E+gDv4CSAGshXL/cOvtRhZo+04h+JdkieNtsIJkUrFHPV6D2+dXIb M=; X-IronPort-AV: E=Sophos;i="4.67,307,1309752000"; d="scan'208,217";a="7729207" Received: from hubtransportpcf.senate.gov (HELO SHARED-WSH-HT02.shared.ussenate.us) ([156.33.222.3]) by p-ess-ironp4.senate.gov with ESMTP/TLS/RC4-MD5; 02 Aug 2011 14:16:12 -0400 Received: from SENATE-EX05.senate.ussenate.us ([156.33.248.44]) by SHARED-WSH-HT02.shared.ussenate.us ([156.33.222.3]) with mapi; Tue, 2 Aug 2011 14:16:12 -0400 From: "Crapo News Release (Crapo)" <newsclips@crapo.senate.gov> Date: Tue, 2 Aug 2011 14:16:10 -0400 Subject: Idaho Senators Say Debt Plan Puts Spending Cuts First Thread-Topic: Idaho Senators Say Debt Plan Puts Spending Cuts First Thread-Index: AcxRQEGEp8oVX49LTV6GUGHb8WwlxA== Message-ID: <EF22B21D8CEAA148B030C28A9708DB9E02977734F0@SENATE-EX05.senate.ussenate.us> Accept-Language: en-US Content-Language: en-US X-MS-Has-Attach: X-MS-TNEF-Correlator: acceptlanguage: en-US Content-Type: multipart/alternative; boundary="_000_EF22B21D8CEAA148B030C28A9708DB9E02977734F0SENATEEX05sen_" MIME-Version: 1.0 --_000_EF22B21D8CEAA148B030C28A9708DB9E02977734F0SENATEEX05sen_ Content-Type: text/plain; charset="us-ascii" Content-Transfer-Encoding: quoted-printable FOR IMMEDIATE RELEASE = CONTACT: Crapo: (208) 344-1108 August 2, 2011 = Risch: (208) 342-54= 34 IDAHO SENATORS SAY DEBT PLAN PUTS SPENDING CUTS FIRST Crapo, Risch support plan for no new taxes, immediate budget reductions Washington, D.C. - With the nation's credit rating and the threat of highe= r interest rates on the line, Idaho Senators Mike Crapo and Jim Risch today= supported an agreement that sets a framework for trillions of dollars in p= ermanent spending cuts and provides an opportunity to vote on a balanced bu= dget amendment in both the U.S. Senate and House of Representatives. Key p= rovisions in the plan ensure no tax increases and true spending reductions = in excess of the debt ceiling increase. Both Idaho Senators agree that the= proposal does not cut enough spending, but that it offers significant oppo= rtunities to take the necessary first steps to get our fiscal house in orde= r. Crapo said, "For years, our country has been headed down the road to this u= nprecedented and unsustainable fiscal crisis. It requires serious reforms = that carry enforcement and weight beyond this Congress and into the future.= This legislation starts us on that path. Spending cuts simply must come = first, followed by tax reform that will reduce taxes and promote policies t= hat will grow our economy and stimulate job creation and growth. And as we= move through the process of cutting spending, the public deserves nothing = less than an open, public and deliberative process in debating where and ho= w to cut the budget." Risch said, "This is a step in the right direction. We are making actual c= uts to government spending, putting spending controls in place and providin= g for a vote on a balanced budget amendment without raising taxes. While i= t is a step in the right direction, it is only a first step in slowing the = federal spending that is harming our economy. I am committed to continuing= this effort to balance our budget and make government live within its mean= s." The 10-year plan was approved on a 74 to 26 vote. It offers $1 trillion in= immediate spending cuts and a gradual increase in the debt ceiling to allo= w Social Security, Medicare and other obligations to be paid. The legislat= ion also establishes a 12-member bipartisan Congressional committee that wi= ll decide future spending cuts of at least $1.5 trillion and change the fis= cal debate in Washington. The debt limit increase bill would accomplish the following: * Cuts and caps discretionary spending saving $917 billion over ten year= s * Requires a vote on a Balanced Budget Amendment (BBA) to the Constituti= on * Achieves savings greater than debt limit increase * Establishes a Joint Select Committee (JSC) that requires an additional= $1.5 trillion in savings * No job-killing tax increases The Congressional Budget Office (CBO) also estimates that the legislation w= ould reduce budget deficits by at least $2.1 trillion between 2012 and 2021= --_000_EF22B21D8CEAA148B030C28A9708DB9E02977734F0SENATEEX05sen_--]