Could this be the big break? Brian Beutler explains:
Obama administration officials say they’ve prepared a major, $4 trillion deficit reduction package, to lay out before Republican and Democratic leaders at the White House tomorrow. This would include significant, unspecified cuts to entitlement spending, but also real new tax revenues — including possibly a partial expiration of the Bush tax cuts.
[...] If Boehner’s said he’ll accept real new tax revenues — eliminating expenditures, or raising rates, or a combination of the two, and not just selling off federal property and calling it “new revenue” — then we could be looking at an actual grand bargain. The kind of once-in-a-decade development that will shake Washington to its foundation, raise howls from advocacy groups across the political spectrum, and, of course, mean real, difficult changes to peoples’ lives.
Stand by for the drama…