Sen. Claire McCaskill
12:17 pm
Wed July 20, 2011

McCaskill: "Gang of Six" plan makes sense

Missouri Sen. Claire McCaskill says the bipartisan “Gang of Six” plan to steer the government away from a first-ever default on its financial obligations makes sense because it helps the deficit and lowers corporate and personal tax rates.

The democratic Senator attended the meeting on Capitol Hill Tues. where some 50 senators from both parties were briefed on the plan. McCaskill says most of the senators are excited about the compromise that was presented.

 “Now some people aren’t going to get the tax breaks that they get now that are written in the tax code,” said McCaskill in a weekly conference call with reporters. “But, it moves us towards a flatter tax, a fairer tax, and a tax that I think will spur economic development because it will remove so much of the complexities in the tax code.”

McCaskill said she has yet to review all the details of the plan. 

The "Gang of Six" plan promises almost $4 trillion in deficit cuts, including an immediate 10-year, $500 billion down payment that would come as Congress sets caps on the agency budgets it passes each year. It also requires an additional $500 billion in cost curbs on federal health care programs, cuts to federal employee pensions, curbs in the growth of military heath care and retirement costs.

Senate Majority Leader Harry Reid has said the plan is too complicated to advance before the August 2nd deadline.