McCain Says Leave Everything on the Table
On Bloomberg Government's "Capitol Gains" show, Sen. John McCain (R-AZ) endorsed at least the Simpson-Bowles outline as the starting point for negotiations. He is quoted as saying "Everybody knows what the solution is, and that’s Simpson-Bowles...We are prepared to support it as an outline."
McCain said that he would be willing to support new revenue in the form of closing tax loopholes--specifically naming the credits for ethanol production--as part of a comprehensive plan that avoids the fiscal cliff. His endorsement of a negotiation with everything on the table is a helpful sign as we hurtle towards the end of the year with no public progress so far, especially considering that one of the Campaign to Fix the Debt's core principles is to use the Simpson-Bowles plan as a starting point for the final plan.
The full interview wtih Sen. McCain will air on Sunday.