Bipartisan group of senators calls for deficit panel to ‘go big’

Conrad suggested that all the work done so far on and off Capitol Hill be looked at closely. 

“Frankly, they don’t have time to reinvent the wheel,” he said. “So, I think they’re going to have to borrow heavily from the work that’s already been done.”

Conrad suggested that the lawmakers on the panel “lay out a commitment to do tax reform and lay out an assignment to the committees of jurisdiction to provide it within a certain time frame as part of an overall package.” 

They suggested the panel include enough “deficit reduction to stabilize the debt as a share of the economy, put the debt on a downward path and provide fiscal certainty.”

The lawmakers also called for structuring the economy to grow in the short-, medium- and long-term and work to include the American public and the business community in a broader discussion about the issues. 

The 12-member deficit-reduction panel is charged with cutting the deficit by $1.5 trillion over 10 years, in addition to the nearly $1 trillion in savings included in the debt-ceiling legislation. 

The 37 members of the coalition include Sens. Lamar Alexander (R-Tenn.), Kelly Ayotte (R-N.H.), Mark Begich (D-Alaska), Michael Bennet (D-Colo.), Richard Burr (R-N.C.), Tom Carper (D-Del.), Chambliss, Dan Coats (R-Ind.), Tom Coburn (R-Okla.), Thad Cochran (R-Miss.), Conrad, Chris Coons (D-Del.), Bob Corker (R-Tenn.), John Cornyn (R-Texas), Mike Crapo (R-Idaho), Lindsey Graham (R-S.C.), Kay Hagan (D-N.C.), John Hoeven (R-N.D.), Kay Bailey Hutchison (R-Texas), Johnny Isakson (R-Ga.), Mike Johanns (R-Neb.), Ron Johnson (R-Wis.), Mark Kirk (R-Ill.), Amy Klobuchar (D-Minn.), Mary Landrieu (D-La.), Joe Lieberman (I-Conn.), Claire McCaskill (D-Mo.), Joe Manchin (D-W.Va.), Lisa Murkowski (R-Alaska), Bill Nelson (D-Fla.), Mark Pryor (D-Ark.), Jeanne Shaheen (D-N.H.), Jon Tester (D-Mont.), Mark Udall (D-Colo.), Warner, Roger Wicker (R-Miss.) and Ron Wyden (D-Ore.).