Washington (CNN) – Members of a bipartisan group of senators who worked for months to forge an agreement to make deep reductions in the federal debt will unveil a plan to slash trillions of dollars off that debt over the next 10 years.
The former Gang of Six members will reveal their plan privately Tuesday to a group of 40 to 50 senators.
WASHINGTON (CNN) – In what could be the Washington equivalent of a Komodo dragon spotting, senators known as the Gang of Six made a rare public appearance on Wednesday – at least some of them.
At the Peter G. Peterson Foundation's Fiscal Summit held in Washington, four of the six original members of the bipartisan group working toward a deficit reduction plan sat down to a panel discussion. Though the senators withheld the details of their deficit reduction plan, they did give some insight into how the group works.
Washington (CNN) - Democratic Sen. Dick Durbin of Illinois, a member of the bipartisan so-called "gang of six," said the group reached a deal before Republican Sen. Tom Coburn dropped out Tuesday.
"We were ready to announce as far as I was concerned and then Sen. Coburn said no I'm not part of this and walked away," Durbin said Sunday on CNN's "State of the Union." "The question now is whether senators on both sides of the aisle, Democrat and Republican will step up and say don't stop. We need to do this together, we need to sacrifice and make concessions on both sides if we're ever going to solve this national problem."
Washington (CNN)-One day after Oklahoma Republican Sen. Tom Coburn dramatically dropped out of the bipartisan Gang of Six debt talks, the remaining five members of the group huddled late Wednesday to discuss their next steps in trying to reach a deal to cut the nation's debt by $4 trillion over the next decade.
After an hour-long meeting in the office of Sen. Mark Warner, D-Virginia, the senators emerged jointly before cameras for the first time to announce they would continue working towards a deal, even if Coburn had left the group.
Washington (CNN) – Republican Sen. Tom Coburn, R-Oklahoma, is pulling out of so-called "Gang of Six" bipartisan negotiations for now – dealing a potentially fatal blow to the group that has been working intensely for some five months to find agreement on a deficit reduction plan.
Coburn believes the group has reached an "impasse."
Washington (CNN) - A leading Senate conservative said Sunday he can accept tax reform that increases overall tax revenue as part of a comprehensive deficit reduction plan.
Republican Sen. Tom Coburn of Oklahoma told the NBC program "Meet the Press" that if lowering tax rates and eliminating loopholes and deductions ended up bringing in more money to the U.S. government, "that would be fine with me."
Washington (CNN) – President Obama advocated for his proposed budget in the weekly address Saturday, calling it a “balanced plan that reduces spending and brings down the deficit” to put America “back on track.”
He warned that, without action, the “rising tide of borrowing” will damage the economy, but also cautioned that action must be in the form of a “balanced approach to reduce the deficit.”
New York (CNNMoney) - Friday was the 155th day the federal government has operated without a budget, and some lawmakers spent it arguing over nickels and dimes.
Republican Sens. Jim DeMint of South Carolina and Tom Coburn of Oklahoma introduced a bill Friday that would save a little more than $400 million a year by stripping all federal funding for the Corporation for Public Broadcasting.FULL STORY
Washington (CNN) - Bring back the ban on assault weapons, or tighten enforcement of existing gun control laws and regulations?
Those were two options for strengthening gun control offered Sunday by Democrats in the wake of the Tucson, Arizona, shootings last week that killed six people and wounded 13, including Democratic Rep. Gabrielle Giffords.FULL STORY
WASHINGTON (CNN) - Oklahoma Republican Sen. Tom Coburn signaled Sunday that the debate over health care reform will continue in the Senate despite an obstacle-filled repeal process.
The House is expected to vote to repeal the law this week, but similar legislation is unlikely to make it through the Democratic-controlled Senate or survive a presidential veto. However, a repeal vote fulfills a GOP campaign promise, allowing Republican legislators to publicly record their views and concerns.