BOISE, ID – The Congressional Budget Office released its latest budget and economic outlook today. This year’s federal government deficit will top one trillion dollars. Add to that $75 billion if payroll tax cut extensions continue for the rest of the year.
Idaho’s U.S. Senator Mike Crapo sits on a Conference Committee to help figure out how to extend this tax relief. He says, “I believe that we need to offset that cost with spending reductions in other parts of the budget.” Crapo favors across the board budget cut but he thinks it’s likely others will want to cut specific items, such as through Medicare reform. Crapo says he would be willing to consider such proposals.
The Conference Committee will also discuss the Keystone XL Pipeline project and unemployment insurance benefits. The Committee’s deadline is February 29th.
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