In accordance with the debt ceiling legislation (S365), a bipartisan, bicameral 12-member “super committee” has been formed to reach a consensus on a long-term deficit reduction plan. Members of the committee include:
- Sen. Patty Murray, D-Washington (Co-Chair) - Secretary of Democratic Caucus, ranking member of the Budget Committee, Chairwoman of Appropriations transportation subcommittee.
- Sen. John Kerry, D- Massachusetts - Chairman of Foreign Relations Committee, member of Finance Committee.
- Sen. Max Baucus, D- Montana - served on the President’s fiscal commission, member of the Gang of Six, Chairman of Finance Committee.
- Sen. Jon Kyl, R- Arizona - Republican Whip, member of Finance Committee.
- Sen. Rob Portman, R- Ohio - former director of the White House Office of Management Budget (G.W. Bush), member of Budget Committee.
- Sen. Patrick J. Toomey, R- Pennsylvania - member of Budget, Banking, and Commerce Committees.
- Rep. Jeb Hensarling, R-Texas (Co-Chair) - Chairman of House Republican Conference, served on the President’s fiscal commission. Vice-Chairman of Finance Committee.
- Rep. Dave Camp, R- Michigan - served on the President’s fiscal commission, Chairman of Ways and Means Committee.
- Rep. Fred Upton, R- Michigan - Chairman of Energy and Commerce Committee, previously worked in the White House Office of Management and Budget (Reagan).
- Rep. James E. Clyburn, D-South Carolina - Assistant House Democratic Leader, member of the Gang of Six, Leadership Liaison to the Appropriations Committee.
- Rep. Xavier Becerra, D- California - Democratic Caucus Vice-Chair, served on the President’s fiscal commission, member of the Ways and Means and Budget Committees.
- Rep. Chris Van Hollen, D- Maryland - member of the Gang of Six, ranking Democrat on Budget Committee.
With a demanding four months of work ahead, the “super committee” has an organizational meeting scheduled for today, with the first hearing on September 13th. There are a series of deadlines in place in October and November to ensure that recommendations are received and voted upon in a timely manner. Once the committee reports its proposals on December 2nd, both the House and Senate must vote on the recommendations by December 23rd.
We will continue to monitor any developments concerning deficit reduction. Please do not hesitate to contact us if we can be of additional assistance.