6 Loan Payday Right 9

The Huddle: American hates Congress

(with assists from Jake Sherman, Jonathan Allen and Kevin Robillard)

( swong@politico.com or @scottwongDC)

RIGHT VS. RIGHT -- POLITICO’s Manu Raju and Jake Sherman report on the internal strife within the GOP just week before the supercommittee’s deadline. “Republicans are facing a serious rift within their party over taxes, pitting conservatives against conservatives and illustrating the steep climb for a deficit deal in the congressional supercommittee by next week. On one side are Republicans like Rep. Jeb Hensarling of Texas and Sen. Pat Toomey of Pennsylvania, two members of the deficit-cutting supercommittee who are privately telling their colleagues that they aren’t abandoning their principles by raising several hundreds of billions in fresh revenue by closing loopholes, as long as Congress is able to lower tax rates across the board and get started on a tax overhaul. On the other side are conservatives like Sen. Jim Inhofe of Oklahoma, Rep. Patrick McHenry of North Carolina and more than 65 House Republicans who are adamantly opposed to the revenue raisers proposed, warning it’s bad policy and politics and could become a black eye for their party. Republicans don’t have much room to move. Democrats want more than the $250 billion in new revenues Toomey put on the table in an offer last week and to drop calls for permanently extending the Bush tax cuts, placing the GOP in between Democratic demands and a loud conservative base frustrated at their party’s negotiators for offering a tax concession.” Today’s front page: http://bit.ly/saBkzl

-- “Congressional leaders began to insert themselves more deeply Tuesday into the work of a joint committee charged with taming the deficit, as Republicans in both chambers embraced a plan devised by Senator Patrick J. Toomey, one of their party’s representatives on the panel. Democrats appeared to be less united and struggling to come up with a counteroffer. …” The New York Times’ Jennifer Steinhauer and Robert Pear report. “[I]t is far from clear that unanimity exists in the Republicans’ legislative world, either. Representative Eric Cantor, the majority leader, has repeatedly refused this week to endorse the Republican plan, saying that he is not acquainted with its details, even though his staff has been in several meetings and the plan was carefully presented by Mr. Hensarling, the co-chairman of the joint panel, on Tuesday at the meeting of House Republicans.” http://nyti.

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