Senator Crapo Clarifies “Gang Of Six” Plan

Idaho's own member of the so called gang of six says he's concerned about misinformation regarding the bipartisan senate committee’s debt reduction plan. Idaho senator Mike Crapo says that the bottom line is that the plan will “reduce taxes dramatically.” But some republicans aren't convinced. Crapo R-took a shot at House Budget Chairman Paul Ryan yesterday implying that the Wisconsin Republican was fudging numbers in his criticism of the "Gang of Six" deficit reduction proposal. Ryan says the gang's formula for saving money and increasing revenues didn't seem to add up. Others say the plan will actually cost tax payers more. Crapo tells News Radio 1310 KLIX that's just not true.  He says the tax rates in the major categories will go down by several percentage points.  Since the group has only put out an outline of its plan, it’s impossible to know exactly how it would affect taxes. The plan would supposedly reduce the deficit by $3.7 trillion over 10 years, but with time running out on the August 2 deadline, it may not factor in as part of the current debate on raising the debt ceiling.