Where Does 'Gang of Six' Plan Stand?
Sen. Mike Crapo on debt talks, Senate proposal
- Duration 5:15
- Date Jul 24, 2011
Sen. Mike Crapo on debt talks, Senate proposal
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-- senate gang of six is the only bipartisan group on Capitol Hill that is produced some kind of plan to handle the looming debt crisis but what are the current prospects for that plan.
Well let's talk with gang of six member Republican senator might create though He joins us senator thanks for coming in today thank you good to be with you there's been a lot of the spotlight on gang of six and what you come up with is the only bipartisan concept we've seen so far so where does it stand how do you take the next step to getting it in some sort of legislative -- -- form that -- can vote on.
Well we've already been working very hard to get the legislative language put into place.
Remember this was put together not as a vehicle to solve the debt ceiling battle but to solve the much broader debt crisis issue it puts everything on the table.
It's really a paradigm shift in American fiscal policy.
But that being said we are able to put this -- legislative language and it could be -- -- part of either all of -- or part of it.
Worked into a solution for the debt -- crisis it's.
Got fans on both sides of the out and critics on both sides of the Alice you'd imagine any piece of compromise legislation would have.
How do you build enough of a coalition to get behind -- something that would please both the White House and state house Tea Party caucus.
Well so we've been doing for six months as we tried to negotiated among.
Very very strong conservatives and moderates and liberals in the senate.
The way we must approaches and the way it must end up.
Is that we have to take on spending aggressively I think the vast majority of Americans know that the problem in Washington is spending.
Not lack of revenue that being said we also need to reform the tax code and we need to focus on growth because growth is one of the key problems we face.
And our approach does just that we generate the revenue that's needed for the revenue side of the equation.
By reducing rates flattening the code and then growing the economy and you -- using that additional revenue from a stronger more powerful economy.
To help pay down the national debt.
Anytime you say the word raising revenues you say those words people immediately some out there who think tax hike and there are those -- on capital -- said He cannot possibly will not vote for anything.
That amounts to a tax hike I know for some people it's semantics but how are you gonna convince people to get on board with that part of the equation.
Would you put your finger right on one of the huge problems because you're right and as soon as you say revenue people think you're.
Trying to sneak a tax increase in on them and that attack has been made on our plan.
But the bottom line is we have to continue to fight this fight.
And and we are getting much greater penetration of the notion that our approach does not raise taxes in fact it dramatically.
Cuts the tax rates.
Flattens out the code and generates the revenue part of the equation.
From growth in the economy and that is exactly the kind of policies we need right now in fact raising taxes right now would be the very worst thing we could do to this economy.
All right so the only alleged that a measure we've seen a vote on to forest and cut cap announced passed the house blocked in the senate won't even get to a vote there.
A you -- are working a legislative language for the gang of six planned.
But -- nine days out from the August 2 deadline how quickly could you get something -- Paper.
Something to be on Paper very quickly and it would -- need to be scored I think that could also be done quickly.
But -- -- make a point.
The gang of six plan is not inconsistent with the cut cap and balanced bill I'm a cosponsor of the cup captain balanced bill frankly.
America needs both if we're really gonna get out of the trouble we are and we need to cut cap and balance primarily a balanced budget amendment.
We needed a huge change in our pro growth policy on tax policy we need to focus on the spending and then we'll probably need to do it again.
Just just to be able to climb out of a hole are fourteen and a half trillion dollar debt leaves us with.
OK -- budget amendment we've talked about Allah we talked that was senator Mike Lee -- of -- colleagues our earlier in the last hour we talked about the Fox News polling results that show us more than 70% of Americans say they definitely support something like a balanced budget -- -- and then that.
But when you start spelling it out for them about how you gonna do it through cutting programs are raising taxes.
The number -- so how do you convince not only your colleagues here in capital -- but the American people.
To get on board with this when you know the -- -- and it's got to go through the state to be ratified by two thirds of them.
Well I think you keep the focus of the debate on the threat to our nation and the threat to our new nation.
Not only at a national security level but right down to to the individual on the family level is so great.
And the impacts on their lives will be so great the threat to the American dream is so great.
That we must create the kind of process protections in our system to avoid this kind of a debt crisis and build out of it.
And when you approach the debate on that.
From that way.
Then you're able able to get people to support the process reforms that they know will make.
The tough decisions for them or help them to make the tough decisions as they go forward and I think the vast majority of Americans would agree.
That if they felt that the decisions we're going to be made in a fair and balanced way.
And that their particular interest weren't going to be called on -- more -- that a pro read -- share of the solution.
Then they would step forward and support it.
We're big -- a fair amount so we wish you all the best of -- that got insulation senator Mike Craig though we knew we you have a lot of work to do.
Keep us updated on the up progress thank you thanks.