(CNN) - House Republican leaders will meet Wednesday with business leaders including Erskine Bowles, Republican aides on Capitol Hill said Monday, as congressional leaders work to avert a plunge off the so-called "fiscal cliff."
Bowles was the Democratic co-chairman of President Barack Obama's 2010 deficit reduction panel. After the commission's recommendations failed to garner enough support, Bowles and the Republican co-chairman of the group, Alan Simpson, went on to found the group Campaign to Fix the Debt.
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The meeting will be attended by other business leaders associated with the group, an aide said.
That group has advanced a set of principles for debt reduction that are consistent with the principles outlined after the election by House Speaker John Boehner, one Boehner aide pointed out to CNN.
In a statement after top congressional leaders met with Obama at the White House, Fix the Debt's president Maya MacGuineas said the group "is not pushing any one plan in particular," but supports a solution which: raises revenue by tax reforms including "broadening the base, lowering rates and closing loopholes;" as well as reduces "wasteful" federal spending and reforms entitlement spending.
The meeting will be hosted by Majority Whip Kevin McCarthy, R-California., an aide to McCarthy said. The GOP Whip has held separate discussions with small business groups on the fiscal cliff.
In a statement on the upcoming meeting, Boehner said, "People in both parties agree we need a 'balanced approach' to deal with our deficit and debt and help our economy create jobs. As we've seen in recent days, the American people support an approach that involves both major spending cuts and additional revenue via tax reform with lower tax rates. We look forward to talking to Mr. Bowles and other members of the coalition about their ideas to avert the 'fiscal cliff' without tax hikes that target small businesses and cost jobs."
Obama met separately with business and labor leaders earlier this month at the White House.
Since the meeting at the White House on the Friday before Thanksgiving, the discussions on Capitol Hill have been mostly at the staff level, but Obama did call Boehner and Senate Majority Leader Harry Reid, a Democrat, on Saturday. So far there are no plans for another meeting of top leaders and the president at the White House.
The fiscal cliff is a collection of spending cuts and tax increases that are scheduled to take effect in the new year absent congressional action. Economists predict going off the cliff would put the U.S. economy into recession.
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>@tommy they will hv 2 bring their $ back from tax havens and start paying fair wages!
>Ppl shouldnt hv 2 feel shame 4 working at mcd's or walmart.
People are paid what they are worth, no more, no less. Labor is a free market and you can go whereever you like to work. If you want to make more, then stay in school and get an education for a chance at a good paying job (please get a degree in something worthwhile!) Nobody is forcing people to work at McDonalds or Walmart.
Problem is that Obama has killed the economy for the last 3 years and that hurts the lowest wage earners the most. Far more employees than jobs and that drives wages down. If people truly wanted higher wages and decent jobs, they would not have voted for Obama. Unfortunately now everybody will pay the price, especially the people he claims to care about the most. He fails to tell you that the level playin gfield he talks about means equal poverty for all.
Aww...poor lil' just sayin.. still sore about his team getting their butts kicked, and still whining about all the juicy canned liberal, socialist, and dem lies and tricks that right wingnuts love to speel.
No mention (as usual) of the MASSIVE increase (doubling) of Nat'l Debt that occurred on the last Republican watch (approx. $8.8 TRILLION) and the budget deficit that went from +$283 Billion to a MASSIVE -$1.47 TRILLION all in 8 short yrs of Bush 43. The FACTS don't lie.. heck, I don't even need to bring up the job losses, TARP, Medicare Part D, yada, yada, yada. So who's spent us into this hole.. ???????
Let the W taxcuts for the wealthiest 2% expire, then work on a "tax reform" that is fair for all & benefits the necessary programs & departments! Another thing congress can do is "clean house"! There are some bi-partisan politicians, right now, who are uncovering unbelievable waste in numerous governmental departments! That needs to be persued! Ent.itlement reform should never be at the expense of those who need help! An SS check of about $800 has no wiggle room for negotiations, it's barely enough for a person (like my mom) to live on, as it is! The waste & fraud rarely come from individuals, but companies, organisations & government itself! Finally, boycott Norquist's taxpledge & repeal Citizens United!!
One very large problem with this news. Unless both political parties meet with those from the Simpson-Bowles committee not much will happen. Of course, Rep. Paul Ryan broke with the group a month or two before he was names vice presidential campaign. Has his power diminished now? Why can't there be a bipartisan meetings which will smooth the way and speed up the process.
FUNNY how when an Average person gets in Debt Trouble, the answer is ALWAYS – STOP SPENDING – and PAY YOUR DEBT – -OR NO MORE LOANS – – but the Govt says "Hey, we can BORROW money cheaply – let the NEXT generation PAY for it" – – HUGHHH