Deficit Reduction Committee Taking Shape

A key component of the recently passed Budget Control Act of 2011, is the creation of a Joint Select Committee in Deficit Reduction that will be tasked with cutting spending between $1.2 and $1.5 trillion from federal programs to increase the debt ceiling beyond the initial increase of $900 billion.  The committee will be made up of 12 Members of Congress – three Republicans and three Democrats from both the House and Senate. All four of the leadership offices have announced their selections to serve on the committee. Serving as co-chairs are Senator Patty Murray (D-WA) and Representative Jeb Hensarling (R-TX).  Both Hensarling and Murray are members of their respective chamber’s leadership teams.  The Senate committee members are; John Kerry (D-MA), Max Baucus (D-MT), Pat Toomey (R-PA), John Kyl (R-AZ) and Rob Portman (R-OH).  Along with Co-Chairman Hensarling, Speaker John Boehner (R-OH) named Representatives Fred Upton (R-MI) and Dave Camp (R-MI) to serve on the committee. House Minority Leader Nancy Pelosi (D-CA) has named Representatives James Clyburn (D-SC), Xavier Becerra (D-CA), and Chris Van Hollen (D-MD). The joint committee will be asking for recommendations from each House and Senate committee on cost cutting measures for programs within their jurisdiction by Oct. 14.  Following that, the committee has 40 days (Nov. 23) to report their final product to the full Congress.  Once the House and Senate have received the report they have until Dec. 23 to have an up or down vote on the plan.  If the committee fails to meet their deadlines or the plan fails to pass the House or Senate, the spending cuts will automatically go into effect through a process known as sequestration. AGC and its members have strong relationships with many of the members of the joint committee and will meet with them to discuss the importance of construction spending in a final package.  AGC will offer ideas to increase efficiency and reduce costs while still delivering the projects the country needs. For more information, please contact Sean O’Neill at (202) 547-8892 or oneills@agc.org.