Gang of Eight (fiscal matters)

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The Gang of Eight is a common colloquial term for a set of eight leaders within the United States Congress. Specifically, the Gang of Eight includes the various leaders of each of the two parties from both the Senate and House of Representatives for financial matters.

Members

United States fiscal cliff

A group of senators, now being referred to as a Gang of Eight,[1][2][3] Because of the number of spending cuts and tax changes, at least half a dozen committees, such as the House Ways and Means and Senate Finance committees, might want to weigh in on the bill.[1] It is composed of Democratic Whip Richard J. Durbin D-Il., Finance Committee member Tom Coburn, R-Okla., Budget Committee Chair Kent Conrad, D-N.D., Sen. Michael F. Bennet, D-Colo., Sen. Mark R. Warner, D-Va., Finance member Mike Crapo, R-Idaho., Sen. Saxby Chambliss, R-Ga., and Sen. Mike Johanns, R-Neb., have been working since 2011 but "[have] so far failed to reach an agreement after more than a year of talks."[1][2] Because of the number of spending cuts and tax changes, at least half a dozen committees, such as the House Ways and Means and Senate Finance committees, might want to weigh in on the bill.[1][3] Congressional rules allow bills to skip committee hearings, but the group lacks the clout to "push its plan through Congress outside the regular order of business".[1][3]

References

  1. ^ a b c d e Gleeson, Michael M. (November 2012). "2012 TNT 212-3 SENATE EFFORT TO AVERT 'FISCAL CLIFF' FACES INSTITUTIONAL OBSTACLES. (Release Date: OCTOBER 24, 2012) (Doc 2012-22032)". Tax Notes Today. 2012 TNT 212-3 (2012 TNT 212-3).
  2. ^ a b Plante, Bill (October 9, 2012). ""Gang of Eight" to meet in attempt to avoid fiscal cliff". CBS. Retrieved 29 December 2012.
  3. ^ a b c O'Keefe, Ed (November 28, 2012). "What is the 'Gang of Eight' (and who's in it)?". Washington Post. Retrieved 29 December 2012.
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