U.S. Sen. Bill Nelson doesn't expect a budget agreement to come easily
U.S. Senator Bill Nelson weighed in on budget proposals in the House and Senate that the two chambers of Congress likely wonâ€™t agree on. The Republican-led House is expected to pass a budget, but the Democratic Senate is likely to bat that down. Both chambers need to pass a budget before it can be signed by the President. Nelson agreed with sentiments that the budget debate will be compounded by the upcoming Presidential election.
â€œItâ€™s going to take a while because the politics of an election year are going to get in the way, but sooner or later what you have to do, is you have to stop all of these tax loopholes and all of this money going out of the tax code just because itâ€™s going to some special interest. Use that money instead to simplify the tax code and lower everybodyâ€™s rates. Thatâ€™s what we ought to do and I suspect that thatâ€™s going to be hard to do before an election. But I suspect that right after the election weâ€™re going to see it done.â€
The House budget proposal includes a combination of sweeping cuts to discretional spending and tax cuts that some say will disproportionately benefit people with annual incomes above a quarter of a million dollars. According to the New York Times, President Obama called that proposal â€œa prescription for decline.â€comments powered by Disqus