Will the GOP cave?

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The dozen members of the deficit reduction panel known as the supercommittee remain deadlocked. They must agree on a plan by Wednesday to slice more than a trillion dollars from projected deficits, or that money will be cut automatically from future budgets.

Supercommittee co-chairman Jeb Hensarling has long opposed new taxes. And yet, the Texas House Republican a couple of days ago on CNBC endorsed the revenue-raising bid that fellow GOP supercommittee member Senator Pat Toomey made last week.

"We put $250 billion of what is known as static revenue on the table, but only if we can bring down rates," Hensarling says.

Democrats dismiss the offer, saying it's mainly about lowering tax rates for wealthy people and corporations.

But Senate Budget Committee chairman Kent Conrad says he is encouraged that Republicans are finally talking about doing something besides simply cutting spending.

"They've crossed the line on saying in some way you need additional revenue," Conrad says. "But when you go to the details of what they've proposed, there's no new revenue."

Some of the top Republicans in Congress have rallied behind Senator Toomey's revenue-raising offer. One of them is House Speaker John Boehner, who showed a willingness himself during the debt ceiling debate to boost tax revenues.






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http://www.npr.org/2011/11/17/142474469/gop-supercommittee-members-consider-tax-increase
 
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