Sentences with phrase «of deficit reduction plan»

CNN: Biden says increased revenue must be part of deficit reduction plan Vice President Joe Biden told bipartisan congressional negotiators Tuesday that additional tax revenues must be part of any deal to raise the nation's debt ceiling.

«What I'll say... is: The taxes are going to be about 10 percent of the deficit reduction plan.

Senator Kirsten Gillibrand wants to see the Bush - era tax cuts ended as part of a deficit reduction plan.

George Osborne offered up a spirited defence of his deficit reduction plan today, referring to it as a «rock of stability» that will protect Britain from the global financial crisis.

Not exact matches

Earlier this summer, President Obama made limiting tax breaks for the wealthy and closing corporate tax loopholes a part of his deficit - reduction plan, though he was unable to rally support from staunch no - tax Republicans as the deadline approached.

The Update incorporates the October average private sector economic forecasts and an increased «adjustment for risk» for 2011 - 12 to 2013 - 14, as well as an increase in employment insurance rates of only 5 cents (employee rate) for 2012, rather than the 10 cents set in legislation As a result, the balanced budget target is delayed from 2014 - 15 to 2016 - 17, prior to the inclusion of the Targeted Strategic and Operating Review Savings (now called «Deficit Reduction Action Plan Saving Target»).

Past achievements include building the case for deficit reduction in the 1980s and early 1990s, for consolidation of the Canada and Quebec Pension Plans in the late 1990s, a series of shadow federal budgets and fiscal accountability reports in that began in the 2000s, and work on marginal effective tax rates on personal incomes and business investment, which has laid the foundation for such key changes as sales tax reform, elimination of capital taxes, and corporate income tax rate reductions.

In order to fulfill the campaign promise of using growth to reduce the deficit, any tax reform plan should be at least revenue neutral before accounting for economic growth, so all the gains from growth can be devoted to deficit reduction.

The deficit reduction plan in 2010 was the right thing at the time, but the UK is now entering a «new phase», which will be judged by «a different set of parameters», new Chancellor Philip Hammond tells the Today programme.

He said the figures showed the British government was «on track in reducing the deficit» and added, referring to the situation in Greece: «On a day like this, in a week like this, for the other side to be saying we abandon our credible deficit reduction plan shows how out of touch they are with what is going on in the world today.»

While the initiative would not see any new money being injected into the system, it tacitly accept the arguments of critics who say the government's deficit reduction programme has no plan for growth.

The Osborne Treasury and the Government in toto remain wedded to «Plan A»: to eliminate the structural deficit at an accelerated pace with an unbalanced mixture of spending reductions (80 %) and tax increases (20 %).

The previous government had planned to increase employer national insurance contributions by one per cent as part of its deficit reduction strategy (Alistair Darling, the then chancellor, has subsequently stated that he would have preferred to have increased VAT instead), and after taking office the coalition government only partially reversed this decision.

Mervyn King may have said, re the deficit reduction plan, that «The right course has been set and it is important to maintain it» but the Shadow Chancellor told Andrew Marr that the Governor of the Bank of England didn't really believe it.

Public confidence in the coalition is collapsing to such an extent that they are going to adopt a new strategy of claiming their deficit reduction plan is the same as Labour's.

If approved, the health taxes in the Deficit Reduction Plan and Executive Budget will drive up the cost of health insurance for all Business Council member employers that purchase health coverage — from sole proprietors and small businesses to the largest self - insured companies — yet will provide no additional covered benefits or have any effect on addressing the rising cost of health care.

Clegg wanted Cable to speak in favour of the call not to break from the coalition's agreed deficit reduction plan, with his aides pointing out that the deputy prime minister expected all Lib Dem MPs to turn up for the vote.

The central pillar of the UK Chancellor George Osborne's deficit reduction plan has collapsed.

House and Senate Republicans offered two different versions of no - tax - increase budget plans Tuesday that they insist can solve the state's projected two - year, $ 5 billion deficit without savage reductions in state aid to cities and towns and school funding.

The report will increase the pressure on the chancellor to provide a Plan B to his deficit reduction strategy and reduce the pace of structural fiscal tightening.

He said his party was getting the «brunt of the blame» for «real anxieties about the deficit reduction plans» in Scotland, Wales and the «great cities of the north».

Balls said the autumn statement would show the «full impact» of Osborne's deficit reduction plan: «How that's going to hit the economy, how it's hitting borrowing and the deficit, how it's hitting families, and who's going to pay the price.»

Yesterday's figures could not be worse timed from the point of view of the Government's aggressive deficit reduction plan.

«I am disappointed that none of our state leaders will move forward with our deficit reduction plan except Ellen Jaffe and for that I commend her courage.

Messrs Huhne, Cable and Clegg may have been respectively difficult for their partners over AV, Beecroft and nearly everything, but they can not be accused of flinching from George Osborne's Plan A. Mr Huhne was a convinced supporter of deficit reduction even before the election.

After months of indicating he wouldn't run for president, Pataki now says his decision depends on whether the other GOP contenders propose a major deficit reduction plan.

That would be because Lipsky, who became acting managing director of the IMF after the resignation of Dominique Strauss - Kahn, recently stood next to Osborne at the Treasury to endorse the chancellor's deficit reduction plan.

His call for a temporary cut in the rate of VAT represents, to his mind, a halfway house between Osborne's deficit reduction plan and Alistair Darling's proposal to halve the deficit over four years.

Business groups are demanding a raft of new anti-strike laws to deal with worker unrest, as the deficit reduction plan takes place.

In a joint press conference with Liberal Democrat Chris Huhne, the Tory chairman branded Labour's economic performance «criminal» and pinned the blame for the deficit reduction plan squarely on the shoulders of the opposition.

«Our deficit reduction plan includes major changes in the way the government operates,» Brown said scathingly in reply, mocking Cameron's preoccupation with expenses and the utterly irrelevant state of the Commons.

That's why our deficit reduction plan is not an alternative to a growth plan: it's the very foundation of our growth plan.

The sight of generous bonus payments as the deficit reduction plan bites and students face crippling university fees would do further damage to Mr Clegg's liberal credentials and play into the Labour account of his role as a «human shield» for the Tories.

This kind of story is probably replicated in all different scales up and down the country and highlights that a strategy of deficit reduction without a plan for growth can create a Japanese - style vicious circle.

The government's deficit reduction plan is based on growth projections that will not come about without radical deregulation of business.

George Osborne found himself increasingly isolated today as a small army of economists demanded he back down over his deficit reduction plan.

25 hours of free childcare for working parents, paid for by increasing the bank levy by # 800m a year; having the OBR audit Labour's spending pledges in its next manifesto; repeating a pledge to reintroduce the 10p bottom tax rate and pay for it with a mansion tax; signing up to the government's post-election spending plans but with a «fairer approach to deficit reduction».

But as Britain slips back into recession, and as voters in Europe tire of austerity, Labour is uniting around a message that the coalition's deficit reduction plan is fast becoming a liability.

I think the decision to accelerate deficit reduction, compared to the plans they inherited — which was clearly not what Vince Cable wanted — I think that was a mistake... I can disagree with Nick Clegg on some of the things he did but I've no reason to doubt his integrity.»

WASHINGTON (CNN)- The U.S. House on Tuesday night passed the «cut, cap and balance» deficit reduction plan backed by tea party conservatives but dismissed by President Barack Obama, who offered strong praise for another proposal put together by a bipartisan group of senators.

George Osborne's plans amount to a significant attack on some of the most vulnerable people in Britain, and follow the rejection of a range of measures that would help the Coalition to deliver the deficit reduction to which it is committed without falling on the shoulders of the most vulnerable.

WASHINGTON (CNN)-- House Majority Leader Eric Cantor said Tuesday that President Barack Obama provided further details of his plans for entitlement reforms at the latest round of deficit reduction talks at the White House.

The original 2010 plan was based very heavily on growth — more than 60 % of the deficit reduction forecast by this point was supposed to have come from growth.

What he didn't say, however, was that this spending review is a reflection of the failure and abandonment of his 2010 deficit reduction plan.

With a $ 348 million increase in taxes on health insurance already approved by lawmakers as part of the 2008 - 09 Deficit Reduction Plan (DRP), The Business Council strongly opposes an additional $ 481 million in health care and health insurance taxes that are proposed as part of the 2009 - 10 Executive Budget.

The comptroller also alleged that, because a substantial portion of Health + Hospitals» revenue actions in its deficit reduction plan requires federal and state approvals, the city would probably have to increase its subsidy by $ 200 million in fiscal year 2017.

Responding to the Shadow Chancellor, Alan Johnson, who implied that Eire's deficit reduction plan was an explanation for its difficulties, the Chancellor said that no international actor who had been part of the negotiations over the bailout had argued that Dublin needed to moderate its fiscal adjustment.

After briefing the parliamentary party, I gave a statement to the Press waiting in Westminster Hall but stuck by the usual line about the importance of any agreement delivering «economic stability and a credible deficit reduction plan».

There is much concern in Washington about the impending «fiscal cliff» of severe cuts to federal programs that will automatically result if Congress and the Obama administration can not agree on a deficit reduction plan by the end of this year.

Tories will have approved of Nick Clegg's tough line on the deficit reduction plan — he even praised the coalition schools policy that his conference rejected this morning, even if he was riding to the rescue a little after the event.