BUDGET: Debt-ceiling measure tees up the main event for Congress this fall – deficit reduction

This fall everyone on Capitol Hill – and around Washington – will be following the work of the Joint Select Committee on Deficit Reduction that was established by the Budget Control Act, S. 365. The measure was the result of a tense summer of negotiations between the Obama administration and Capitol Hill Republicans and Democrats. A key provision established the so-called deficit super committee, which is charged with finding at least $1.2 trillion in deficit reductions over the next 10 years. The panel’s work might also extend to tax reform and possibly include changes to tax breaks for contributions to retirement savings plans. Here’s a related story.

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