Washington, D.C. – Steve Bell, Senior Director of the Bipartisan Policy Center’s Economic Policy Project, issued the following statement on the budget proposed by Reps. Jim Cooper (D-TN) and Steven LaTourette (R-OH):
“The House defeat of the budget proposal authored by Reps. Jim Cooper (D-TN) and Steven LaTourette (R-OH) last night is not the end of efforts to forge a bipartisan compromise on federal budgets. It is the beginning. The 38 members of the House who voted for the Cooper-LaTourette budget showed courage and leadership.
“As the lame duck session approaches, this kind of balanced, comprehensive approach may well gain momentum. The expiration of the 2001 and 2003 tax cuts and the sequester, which all take effect in January 2013, will command Congressional attention. In addition, the debt ceiling is likely to be a large issue in the lame duck session.
“It may well be that the Bowles-Simpson and the Bipartisan Policy Center’s Domenici-Rivlin models will emerge once again as a template as Congress struggles on fiscal policy after the November elections.”