House Republicans’ panel picks might prove the most important. Several attempts at reaching a “grand bargain” on the deficit have blown up over the House GOP’s consistent opposition to tax increases. Reid last week warned that the committee would not produce a bill unless Republicans agreed to increase revenue.
Failing to reach a deal would trigger an automatic $1.2 trillion cut in defense, Medicare and other programs starting Jan. 1, 2013.
Rep. Eric Swalwell, D-Calif., walks on Broadway after a Future Forum with young entrepreneurs in the Flatiron District of New York City, April 16, 2015. Reps. Steve Israel, D-N.Y., Seth Moulton, D-Mass., and Grace Meng, D-N.Y., also attended.