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Thursday, December 2, 2010

postheadericon Sen. Conrad predicts fiscal panel won't pass plan

President Obama's fiscal commission will not have the votes to pass its proposal to reduce the nation's debt and deficit, a powerful member of the panel predicted Thursday.

Sen. Kent Conrad (D-N.D.) -- the chairman of the Senate Budget Committee who supports the commission's plan -- said that 14 of 18 commission members are unlikely to back the proposal, but that the proposal could send a "powerful message" to Congress.

{mosads}"I don’t think we’re going to get to 14 but look if we get a majority of this commission in favor of this plan, I think that’s going to send a very powerful message here in Washington and across the country," Conrad said on Fox Business Network.

Earlier on Thursday, Republican Sens. Tom Coburn (Okla.) and Mike Crapo (Idaho), both members of the commission, said they would support the plan, boosting the number of panel members who support the plan to nine. 

Only one more commissioner would need to announce his or her support for the plan to form a majority. But Senate Finance Committee Chairman Max Baucus (D-Mont.) said Thursday he would oppose the plan, meaning the plan could be sunk with the vote of only one more panelist.

The bipartisan panel's plan to reduce the deficit has met opposition from both liberal and conservative lawmakers and advocacy groups, who have expressed worry over its potential tax hikes and spending cuts, as well as serious changes to Social Security.

Conrad said that, "I think we’re going to see some more announce that they are in favor."

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