Republicans Said to Consider Spending Cuts in Bill

Dec. 19 (Bloomberg) -- Bloomberg's Michael McKee breaks down the potential economic impact of spending cuts and changes to entitlements. He speaks on Bloomberg Television's "In The Loop."

House Republican leaders are considering giving members a chance to vote on spending cuts to firm up support for House Speaker John Boehner’s tax measure, said a Republican lawmaker and a congressional aide who spoke on condition of anonymity.

In announcing his proposal yesterday to raise tax rates for income above $1 million, Boehner had said his plan wouldn’t reverse automatic spending cuts set to take effect in January.

Republican leaders are asking rank-and-file members today what they would support in order to pass Boehner’s plan, which he said would be brought up for a vote tomorrow.

Unless Congress acts, more than $600 billion in tax increases and spending cuts will begin next month.

To contact the reporters on this story: Roxana Tiron in Washington at rtiron@bloomberg.net; James Rowley in Washington at jarowley@bloomberg.net

To contact the editor responsible for this story: Jodi Schneider at jschneider50@bloomberg.net

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