[mla-nynj] Fwd: Overview of National Commission on Fiscal Responsibility and Reform Plan
mtehrani at nyit.edu
Mon Dec 6 17:58:11 UTC 2010
DECEMBER 3, 2010
TO: THE JOINT LEGISLATIVE TASK FORCE AND THE MLA GOVERNMENT RELATIONS COMMITTEE
FR: DALE DIRKS AND TERRELL BAPTISTE
RE: NATIONAL COMMISSION ON FISCAL RESPONSIBILITY AND REFORM
Following 10 months of deliberation, President Obama's National Commission on Fiscal Responsibility and Reform failed to reach consensus today on a far-reaching deficit reduction plan. The 18 member bipartisan commission fell 3 votes shy of the 14 needed to move its ambitious plan forward for congressional consideration.
The proposal would have reduced the federal deficit by a projected $4 trillion over the next decade.
Some of the major policy changes recommended include;
* An overhaul of the tax code for both individuals and corporations, including an elimination or reduction in $1 trillion in annual tax breaks. One of the tax breaks targeted for revision was the deduction for charitable contributions.
* Raising the eligibility age for full Social Security benefits from 67 to 69.
* Significant cuts in discretionary spending, including defense. Popular discretionary health accounts like the National Institutes of Health and the Centers for Disease Control and Prevention would have potentially been impacted by this call for discretionary spending restraint as well.
* Slowing the rate of growth in health care spending, particularly Medicare and Medicaid, by hundreds of billions of dollars.
* Elimination of all congressional earmarks.
To access the entire plan, entitled "The Moment of Truth," please visit........
Although the proposal failed to officially move forward for congressional consideration, members of the Obama administration have already stated that some of the proposals will appear in the President's 2012 budget, which will be released early next year. Moreover, the plan will serve as a resource for any legislator or congressional committee looking for a way to offset new spending in the next Congress.
Mary M. Langman, Coordinator
Information Issues and Policy
Medical Library Association
65 E. Wacker Pl., Ste. 1900
Chicago, Illinois 60601-7246
ph 312/419-9094, ext. 27
mlaedo2 at mlahq.org<mailto:mlaedo2 at mlahq.org>
Mahnaz A. Tehrani MLIS, MSIT, AHIP
New York College of Osteopathic Medicine
Old Westbury, NY 11568-8000
E-mail: mtehrani at nyit.edu<mailto:mtehrani at nyit.edu>
More information about the mla-nynj