Reid: Sequester action week of Feb. 25

February 13, 2013

POLITICO

Ginger Gibson

Senate Majority Leader Harry Reid (D-Nev.) said Tuesday Democrats will offer their own legislation to avert the sequester that is roughly divided between spending cuts and new revenue.

Reid did not detail either half of the bill, but said it would include a number of different revenue sources. It is expected to largely be paid for by a 30 percent minimum tax on millionaires in what is known as the Buffett rule.

Reid said he expects to get a vote as soon as the Senate returns from president's week break the week of Feb. 25.

He said his party plans to act "Because Democrats believe the right way to eliminate the deficit is to target waste and abuse with smart spending cuts with closing tax loopholes," Reid said.

In respond to GOP efforts to brand the sequester as the fault of President Barack Obama, Reid said "this is not the president's sequester," adding that Democrats are more interested in protecting the middle class.

Later, Senate Minority Leader Mitch McConnell (R-Ky.) criticized the lack of action on the sequester.

"Read my lips," McConnell began, invoking the infamous line. "I'm not interested in 11th hour negotiations."

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