Reid makes his way to a meeting of the Senate Democratic Conference as Congress continues a weekend session in hope of agreeing on a deal to avert the fiscal cliff.
But for leading liberals in the Senate, such as Sens. Tom Harkin of Iowa and Bernard Sanders of Vermont, it’s nothing more than a benefit cut to pay for more tax cuts. Any deal that includes Social Security cuts will lose Democratic votes as a result. Still, the odds remain high that the proposal will soon become law; if not in this package then in a bipartisan package in a few months to extend the debt ceiling.
With Obama having already walked away from the other headline benefit cut he tentatively backed during the 2011 grand bargain talks — raising the Medicare eligibility age to 67 — the chained CPI is the biggest remaining trophy he has left to offer up to the GOP in any long-term deal.
Emily Holden and David Harrision contributed to this report.
Rep. Elijah Cummings, D-Md., right, hugs Harold Schaitberger, General President of the International Association of Fire Fighters, after the Congressman spoke at the IAFF's Legislative Conference General Session at the Hyatt Regency on Capitol Hill, March 9, 2015. The day featured addresses by members of Congress and Vice President Joe Biden.